S&P 500 attempted to close the opening gap, was rejected, and slid through my first (intraday) downside target of 4,155, and as it became obvious thanks to bond price action that a rebound was developing, I called off the shorts to your benefit both intraday with last two day‘s tally of +66 e-mini ES points, and also in both daily publications that brought +121 e-mini ES points to clients via trailing exit at 4,168 (all it took was six calendar days).Tech, communications and discretionaries didn‘t disappoint and led the index down (yields didn‘t convincingly give up till later in the session), and cyclicals decently joined in the decline. Local bottom is though approaching, and within the stock market section I‘m sharing my two picks of where that bottom is in terms of prices.Today‘s core PCE didn‘t diverge much from expectations, and is likely to lead to the projected moves (directional) in stocks and gold (I see oil as in need of more consolidation around my latest $83.50 level).See the chart section for the usual detailed analytics with levels. Crude Oil 
Crude oil is bound to spend more time consolidating $83.50, and $1 moves in either direction won‘t be an exception. The base is though building for a fresh swing to the $86 area. Copper 
$3.55 copper is to hold, and conversely $3.68 isn‘t all that far – next week only. The red metal is starting to show very short-term resilience, which would revive silver to a modest degree as well.More By This Author:Decisive SPY Downswing I Called For
SPX 200-D MA Games
Miserable Breadth Must Equal SPY Decline
