The past two weeks in US stocks have been crazy to say the least. Short covering as well as POTUS and his cronie Powell are clearly trying to “PUT” a floor under this market. I like to stay very technical when it comes to indices for this very fact. They think they are lighting a fire under stocks however it appears to be nothing more than a mean reversion move. I’m looking for prices to reach the break down around 2600. This will be crucial. If it gets there fast this market is doomed. If it is slow and steady, there is a chance of a breakout. The trend says this will fall after and I agree. The only catalyst for any bullish sentiment is purely fundamental and that is China trade. Key word being fundamental so I don’t trust it, especially with it coming from a politicians mouth. I have a few levels I’m watching considering a bounce off of 2600. Many of them are weak until 2100 with the exception of the 200 week moving average at 2348. The sequential is on a 5 however this can hit 2600 and close on a red number for a continuation down.