First let me say it's hard not to find a bearish chart but I made a few that will make you stop and think.
This weeks charts start with SPX and that tend line holding.
This chart shows the VIX and that red line taking it's time. Jaywiz his link on left has said many time EW'ers rush and that came to mind. This may take longer than I think!
Here is the meat. The Advanced Get program has offered a green up bias.
Will it be short or long?
I have a 144 TDL in May is all I can offer. We need to watch how strong Mondays rally well be.
I say rally because of the bias (green)
and also the OEX P/c ratio.
We had a 2.19 OEX p/c on a down Friday, looking back a ratio that high on a down Friday has lead to an up Monday. R1 is 1381.96 offical, my leader is 1378.45.
Actually if you miss the Monday rally Wednesday could be lower intraday for a better entry.
This is by no means investment advise, just some thing I personally will watch. If we have good gap down Monday That could be the buy. As always use with your own works.
Jerry
