| Weekly Trend: | Neutral | |
| Daily Trend: | Neutral | |
| Daily Momentum: | ___ | Up |
Our trend filter flipped to neutral today after returning to UP yesterday for the first time in a month or so. Volume was very low today and quite often this can be a precursor to further upside. That said our the pattern construction we’ve been looking for over the last month has been almost perfect; 3-waves up off the May 21 lows. We haven’t quite met wave equality and we haven’t quite met the the minimum 50% retracement zone either so there could be some further probing upward. A strong move down and through 4507 would probably announce that the next wave lower has begun. Those trading the Systematic Power Setups will have no new orders to place tonight as the trend is neutral and not bullish. Defensive action on current open positions will only occur when the trend turns down.
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