SPX remains in the bull zone. A confirmed break below this level (6800–6810) would signal more downside.

NQ/NDX retraced off the declining trendline yesterday. If it doesn’t climb back above this trendline over the next few sessions, a retest, if not a break below, the key 24.2K support comes into play. A rising dollar and rising crude, the risk of a war that could keep inflation elevated and deficits expanding on top of already high long end yields, exorbitantly high P/Es across the board, key bellwethers overstretched to the upside, gold failing to reclaim the key resistance, and indices flirting with a breakdown. A major equity correction is imminent.