The recoil rally has now run out of that oversold bounce fuel.
At the same time, our Psychology Composite has moved back down to P4 (from P3), while we had hope to see P2 before it started weakening.
We've had two big flies in the ointment, so one more correction now back to support levels on the S&P 500 (or maybe slightly under) would help these flies start supporting more upside fireworks.
That's enough charts for a thousand words.
Have a great weekend!
If you are a subscriber to HaysAdvisory.com, click here to read our recent reports. If you would like to learn more about the research and commentary offered by Hays Advisory, click here.
Please see important disclosures at the bottom of this page.