5/4 quick Time and Cycles Update

Globex futures are lower, down -14 confirming lower Lows this morning 5/4L.

I was looking closely at the inverted turned straight cycle last night. 

 

It has a 5/4 Low, bounce for 1 day 5/5H and it does have another retest higher Low at 5/6-9L and as this is a Time cycle that 5/6-9L could be a possible lower Low. I do have a 5/9 double Geo CIT supporting a Low at that time.

 

In Summary, ideally we see plenty of volatility the next couple of days, lasting through 5/9L (at Open), before the actual rally phase starts, which is then followed by another decline to lower Lows.  As we are not seeing a crash wave Low right now, we should still see lower Lows in the coming weeks, but after a rally phase first.