Today 4/12 is Make or Break (MOB) day for the D Cycle looking for a 4/8 swing Low+/-2 TD, ie, we see latest a Low today and reverse higher, otherwise the D Cycle will be incorrect. Once the Low is in, no later than 4/11-12L, we should see a volatile rally into XXX.
We are in for some volatile swings the next few weeks.
Support below is 4398-4405 SPX, the 50% retrace at the 35 DMA
The intraday cycle (which is different from the above daily Cycles) today is an Inversion day, with a possible spillover 9.40L+/- and a 79% chance we see a 1st hour High and normal bias higher. If we do see a 1st hour High, we will have a 68% chance we see a last hour High and a 32% chance we invert.
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