16 Nov 2012

Rally by the afternoon.  We are heading towards the 1380 range for SPX where the 200ma is waiting for us.  Consider that we are in a bearish trend and we have the SPX 60min closing in on the overbought range and the SPX RATIO already at overbought.  Keep in mind any turn down should be a good opportunity for shorting.

Chart below still on track, but the direction of the arrows are just approximation and not a fact.