18 Nov 2013

Higher highs in the SPX was achieved today with the expectations that it would hit near our upper angle above 1800.  The question now is if the downward move late this afternoon is a corrective or a start of a new trend.  We will label the as a 4th wave for now until we are certain the trend has indeed changed.  Todays low also touched one of our lower angles before a bounce occurred, only supposing it briefly. 

Main-Trend: UP (Unconfirmed but still overbought)
Short-Term: DOWN