The symmetry has been broken to the downside in stock markets, which has bearish implications.

I discuss how price has been tracking down the 40-week FLD in the S&P 500, indicating that short trades are likely to be where the money is into the next 18-month cycle trough.

I also look at the EURUSD which is bouncing out of a potential 20-week cycle trough, and GOLD, which is approaching a 40-week cycle trough.