In other news earlier today millennials around the globe decided to unplug from the grid, tune out, toss out their electronics and go "all in" on organic farming. 16 billion dollar semiconductor company KLA Tencor responded by throwing itself off of the San Francisco Bay Bridge plummeting to its death.
ES followed its 24 hour cycle to high just before the open. It then turned lower as the SPX cash started at its high and follows its intraday cycles lower. I mentioned last night that the low was due around noon. To be specific, the idealized low would be at 12:20. It could be either side of that by a half hour or so. Then the 2 day and 5-6 hour cycles are opposed for the rest of the day, with the 2 day cycle low due at 3:40.
Looking at the ES daily wave that I've observed, interesting that it was topping out at the exact moment of last night's spike. It was then down until 6:20 AM ET. The ES hit and held the lows for about an hour starting at 5:20, then turned weakly higher. That wave peaks at around 1 PM. The up phase is extremely weak so far.