17 Dec 2015 - Hangover

Can we say that the market had a sudden hangover from yesterdays FED celebration?  Well still too early to say since ST is still pointing UP.  However, the impulsiveness could just be causing the signal to lag.

The intra-day session is back below the 200 day MA, and this whipsaws can be expected after such an announcement.  I would be foolish to believe that this whipsaw or impulsive manner in price is over.  So lets check to see if this sudden move up the past few days is a new count upwards or just part of another count of an a-b-c up.

SEN: Bearish
ST: UP
PA: DOWN

Note: As I update this blog, the ES has pushed lower into OS territory, therefore the key here is the Monday low that needs to hold for bulls or break for bears.