Stay Bearish unless

Why to stay bearish? Thursday. 3-4

The stock market hates 2 things! Good news and uncertainty we have both.

I think you want to ride with the gap direction for Thursday till 9:45 then watch for a reverse.

The S1 and R1 support/resistance will get hit as a guide.

Dax and Ftse are important leaders.

Even the Sox that was so strong has flat lined here. chart below......

Speaking of the Resistance R2 is spx 1320 or just about 61.8%

of the 1332-1303 . I would not want to see us go above that 1320/1322 area on a close basis.

Tuesday recap 3-2

My view is 10 days ago a formula I used pulled spx 1333 out and we stuck there for 3 days. I thought that was the high but we went a little higher. Now we are to test that again with a 78.6% hit =1333. I hope that will stop it like a brick wall. I don't understand Roy's count but his first number is a throw away and when we come back to a fib hit that should be it. On the table also is the % of stock above the 50dma flat lined today on an up day. We had the up-volume actually down. With a weak trin most of the day the bear will rule Tuesday if 1333 holds. I would also watch the Dax as an early clue.