I am anticipating a resolution to the debt ceiling shortly. There are multiple major supports on SPX at 1310, therefore, I expect today's slight undershoot low at 1306.50 to hold. This represents a significant bear trap on a short term basis.
A powerful rally to 1347 SPX target is anticipated by the timing cycle July 22nd +/- 1 day.
However, a major cycle low is estimated on August 11th +/- 1 day at 1276 SPX. Further details will be outlined on the 30min charts in the near future.