24 Nov 2015 - Back Stabbing

Russia is feeling back stabbed by Turkey today, as said by President Putin in regards to the shooting down of their bombers.  Bears seems to be in the same boat as prices quickly rallied back to green after the first few hours of the open.  "Serious or worried" about war doesn't seem to be in everyone's mind.  Prices in the SPX however is still under the Gann angle.  We need to see if this will cause the price rise to stall, but remember that there are numerous supports right underneath near 2065.  Ultimately this needs to break for a sustained move lower.  Otherwise this is "still a bull run in a bearish market".

Intra-day signal is bullish and in SYNC with the ST, but any high tomorrow in prices could cause a neg. divergence.  Again, divergences do not mean that a reversal is guaranteed, but could potentially warn of a weakening momentum until the next reset occurs.  So keep the signal in mind for tomorrows open.  Bearish if it falls below 50 and Bullish if it stays above... It's as simple as that.

Note:  I kept the option 1 (Red Dotted Line) on the chart, but prices are more likely following in the way of the 2nd (Green Dotted Line).  Any break of the blue dotted trend line will be my signal to go short.  Also in regards to 5th waves, a failure to make a new ATH in the markets is also acceptable as it is commonly seen in final push up in price.  So be nimble my friends.

SEN: Bearish
ST: UP
PA: NA