11 Dec 2015 - Time And Time Again...

Days like these should feel good for those who know what clues to look for prior to the move.  There are days where nothing shows up on the radar or is hard to find any good signs of a market direction.  Yesterday however, I mentioned that a turn is likely based on the intra-day charts bearish sentiments.  A target of 2020 - 2010 was my ideal level and today we not only closed in this range, but we also touched the lower end of that target.

Surpassing the Mid-Nov. lows will nullify the triangle count, but this does not mean that a bearish guarantee is at hand.  This could just be a C-wave correction, so we should watch what happens next week.

Apart from the above analysis though, the weekly has closed on a bearish momentum and this will now allow the markets to draw down for a few weeks or months.  Easier said than done when we come up to a FED possibility of raising rates.  Usually the weekly signals "should" indicate longer term sentiments, but in this case the signal could be false or turn up quickly.  So let us see what happens with the FED decision to raise or not raise.  I will be looking at the prior day before FED speak to see if there are any clues as to the direction regardless the outcome.

SEN: Bearish
ST: DOWN
PA: DOWN (Pls. see notes for Dec 9th of why this signal matters)

Note: Conditions are still OS so short position can be held over the weekend.