6 Apr 2015 - Egg For The Bears

It looks like the horrible jobs number on Friday didn't deter any buying frenzy today. The corrective pattern I talked about last week is still valid.  So look for the indicator to exit the OB range and signal a downtrend.  A 2nd wave pattern is more ideal for the Bears in order to have a prolonged run to the downside while an abcde pattern provides the bulls hope that the correction lower will be met with a rebound to higher highs.  With the volatility that exists it is hard for the indicator to follow in a quick manner.  So either we ride out the volatility storm or stay out until the price trends in a clear direction.

MT: DOWN
ST: DOWN
PA: NA