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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Wednesday, September 11, 2013

SPY Intra-Day Update

The bear case is almost dead. Based on this count, there are no more waves left to the upside so we need to start selling off hard. The DJIA is up against former trendline resistance connecting the 12/31 and 6/24 lows as well as the 61.8 retracement of the entire move down. Nasdaq looks to have completed an Ending Diagonal wave C which I posted yesterday or the day before. Everything is lined up for a selloff. Will it happen?

Chart:

NOTE: QQQ Chart is from September 9th

3 comments:

  1. bear case is dead? means no more decline or what?

    ReplyDelete
  2. Still possible but the odds aren't favoring it.

    ReplyDelete
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