15 Sept 2014

The SPX has been stuck between the lower trendline of the wedge and the longer term rising trendline (Green Dotted Line).  I have adjusted the price to drop to the 200ma of the 60min chart.  There has been talk between me and another person about the target of 2016 SPX Pts. as a high.  With this 200ma target of a bottom, we can arrive at the target of 2016 pts by having Wave 1 (blue) = Wave 5 (blue).  Of course we should still follow our ST which has been working great.  I am also changing our Market Sentiment from Bullish to Recession Warning.  As you can see with our 2nd chart, you should be worried if it crosses below the 50 once again.

MT: DOWN
ST: DOWN
PA: NA

60min:

Recession Warning: