Wednesday, July 8, 2015

Weird Day

I was hopping to see Spx 2098.63 by Wed but we may need to wait till next week.
Maybe I should be bearish but I'm not.
Why, well why aren't we down big time It looks like a market not ready to go down.
Sure future's are down big time again tonight @ 12:30 pm ET. China crashing and Asia weak.
My problem is on the 6-30 double bottom low we had  heavy volume. Today point for point we had light volume moving us up from the low.
We are in a C wave, but where can you find a C wave that was also an outside day reversal?
Where is a C wave confirmed by 5 waves down.
Conclusion if Wed is flat and an inside day that will be bullish, or else we crash since this C can be a crash wave.
I remain long but with little confidence.



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