Below is the updated daily weekly MSP probability bias chart. We are tracking exceptionally well as has been the case for the whole year. A period of sustained down bias appears directly ahead. Top is likely in on a probability basis for a while or there is a moderate possibility that an upward push early next week could be better test. Market is highly precarious.
Keep in mind also that bias towards WEAK "day session performance" increases on Friday's and Monday's presently. Therefore, any overnight price progress, at best, is likely to run into sellers during the day session hours. (Note: each vertical line on the chart below represents the AM session open around 9:00 AM - not the 4:00 PM close)
Lots of talk about another Hindenburg Omen yesterday. The mcm Hindenburg Omen did not trigger and though another standard Hindenburg occurred, it's anecdotal at this moment. Below is an update of the mcm Smart Money Index and also the mcm Market Close, mcm Market Open, mcm Gap and mcm Day Session Indexes. All except the mcm Day Session index have continued to weaken - some dramatically. mcm Gap Index has achieved its blow off as markets attempted to levitate prices via the overnight session, but that has begun failing now too. Very precarious picture putting it nicely.