4 May 2016 - Bear Safe With No Positive Divergence

The bears live to play another day with yesterdays intra-day rally reset giving the push lower more momentum negating a possible positive divergence in the intra-day signals.  Cycle lows are being mentioned this week, but so far the ST is still on a downward track, therefore so will our reset signals.  Major support target still looks to be the 200 day MA near 2013 SPX which is down-trending also or at least sloping down ever so slowly.  While the longer term sentiment still looks bullish, the swing and short term traders should be more focused on the ST signals.

SEN: Bullish
ST: DOWN
PA: DOWN
R: May 3 Downside Bias