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Technology looks to be stalling; Key 19-21 week cycle hits next week

 Roughly 90 min remaining,  Market remain mixed and in particular Technology taking the lead in turning down.. Which I feel is important likely pulls back after this big runup its seen-  Healthcare seeing good rebound.. But outside of this no meaningful movement one way or the other after this big run we've seen this past week-  A few cycles show the potential to peak next week and feel it should be a bit more difficult to make progress in the short run, than the breakouts would normally suggest-  Volume was particualrly light yesterday and Financials and industrials remain in relative downtrends.  Trend overall bullish but stretched, so watching closely for any evidence of markets slipping back down under 2700.  Which would be a big negative.  For now lots of resistance into next week at 2732-45 for S&P and given Volatlity's severe contraction, it makes sense to consider some hedges and cheap vol.  Tech however, which has been a big focus this week, is one that has run too far too quickly  so would rather own Gold/Silver, Energy, and fade the move in Tech into next week

Meanwhile a key 19-21 week cycle shows a possibility of a turn heading into next week which has been important in the last few years-  Most of the low to low cycles have come in right at 135-145 days - so this looks to be an important time heading into next week , and its up to the Bulls to prove that this breakout can start to gain ground.  For now, with Tech stalling, other sectors will need to step up to show strength

 

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