17 Apr 2013

Last hour movement seems to be corrective.  Will we see lower lows tomorrow?  the critical point here for the SPX is the 1540.  If this level is surpassed then we would not call for a 3rd wave up of a 5th.. 

Indicators tell a thousand words.  Our EW counts no matter how good we are was still inferior to our indicators.  Day in Day out we have been saying that our indicators have been on a down-trend, and so far that's just that. It is a matter of the readers here choosing a time frame to trade their respective indicators.

Mid-term: Down Trend
Short-term: Down Trend

Stay Short is the word of the day...