1322 1335 Spx

If this rally had been from a neutral area instead of very oversold it would be on my warning list.
900 tick OB
.63 trin OB
92% upv OB .

That said I think we fight higher 1322 1335 but
Bernanke speaking today ???

Long term bearish, V Short term higher .

Jerry

Looks like low is in

We are oversold on anything I look at ,that could change fast in this market but would take days.
This chart has the 20 and 40TD cycle and we could be looking at a 40TDL +/- a few days,
or will test bottom in next 20 days.

The volume spike should offer higher prices .

We stopped at last wave 1 1267spx think that strong support..


Jerry

Respect this Market

First


The first chart shows the volume and you can see clear direction and capitulation in the past however in the near month no such blow out meaning the market can go lower or we need some heavy volume for direction.
Monday I expect us to move higher for one day UNLESS we are following the pattern of 5-15,16,17th where we just kept closing at or very near the LOD.

I guess we know Adam from Bloomberg. He posted a price of 1193 Spx based on 2011 actions.
On my chart I have a retrace of .0618 or 1207 Spx so very near his target. He based that on 2011
something that Hadik mentioned on his free letter following an 8 week cycle.
My thoughts after this sell off we could rally but I think that is a week ahead of us less indicator give direction volume and price.
Jerry O