FOR THURSDAY: (4/5) Trade waiting on employment report. We have a bias toward sideways to lower stocks for Thursday and lower stocks on Friday but this market is full of surprises everyday. Gold should retrace 2 days now and the dollar is still wanting to go higher for a few days.
JUNE E-MINI S & P 500
S & P ANALYSIS FOR THURSDAY: (4/5) Wednesday’s monumental comeback and sucker punch reeks of Plunge Protection Team energy. WResistance overnight is at 2653.75 with a pullback due to 2630 or 2618, and then 5 waves might recover to 2678. Cycles seem lower Thursday/Friday so something bigger still could come to the downside, and we’re willing to sell and ask questions later. The 2705 and 2738 regions are going to have to come out to negate the technical breakdown but for now the bears are running for cover as the shots have been fired. They will be back.
CYCLE SYNTHESIS: Sharply lower into Thursday; lower Friday.