Intra-Day Update

The DJIA and the SP-500 cash market both found interim bottoms in solid Fib Support Zones (FSZ). The move off the lows isn't overly impressive, yet. Stops should be set at the previous lows of 1627 for the SP-500 and 14,760 for the DJIA. Conditional sell orders should also be placed at these levels in case the move up I have labelled as 4 was actually a B wave. With the sell order in place we should be able to capture the third wave of C down.

Charts:

Charts from yesterday so you know I expected bounces here and am not blowing smoke up your ass like most internet posters.