5 Jul 2013

Markets did a lot today, but not a reversal for the bears.  In fact the SPX surged into the close like it stole something.  Nothing has changed in our trend and the gap that was left open for a few weeks has finally been closed.

Prandelli has a turn date on July 6th and 7th but it will fall on a weekend.  todays move could not be considered a low (as he stated it could be).  Therefore it will be more like a high if one was a betting man.

Mid-Term: DOWN
Short-Term: UP (Since 25th of July.. 9 days ago).

Prices might find resistance on a down trending bold blue dotted line indicated on the chart.