that's what we got today...
As for tomorrow, I don't know where we are going? That's why they call that the "indecision candle", or doji. It looks very bearish how it went up to the 1040 level that I expect on Friday (a day early I was), but we should rally at some point soon.
We are very oversold now, and appear to be basing, or consolidating in this lower range. That could be viewed as bullish, or it could be viewed as a bear flag forming... which is bearish.
The 15 minute chart look ready to rally up tomorrow, and the MACD's are recycling back up from oversold, and the histogram bars look ready to cross the zero line as well. We are also forming a support trendline from the 1010 low, and the higher low at 1015, and now 1018 today.
The 60 minute chart looks ready to go back up and make a second histogram tower above the zero line. If it's a lower tower, then it would be putting in a negative divergence. The bulls need it to be a higher tower then the top of today's tower when the market hit 1040.
The daily chart put in a higher low on the histogram bar today. That shows that an uptrend is about to start soon. The only bad thing about that, is that the MACD's aren't rolling back up yet. And, ADX line is still rising. The negative DI line did roll over today, and is now pointing down, and the positive DI line curled up today, so that's bullish.
The RSI turned back up too, and didn't penetrate the 30 level (if it did, that's really bearish). But, the charts seem mixed overall. I can see bullish points of view and bearish, so I just don't know what to think about tomorrow?
The weekly chart is still very bearish, and isn't showing any signs of going up yet. That means we should expect another down week, although that just doesn't seem likely too me. Just because I see how oversold it is, and should rally. I'm still expecting a move to 1070 soon... but when does it start?
The news out this week isn't really much of anything important, so with this light volume, you would think that we are going to start a rally this week. That's why I don't think this week will be down, even though the charts tell me it will. I'm obviously just going on my gut feeling that we are going to start that rally tomorrow, and not continue to sell off.
So, I wait for the rally, like all the other bears do. The bulls are long, and the bears are waiting to get short at a higher level. Will it happen? Who knows? Not me, that's for sure.
Good luck to everyone...
Update: In the afterhours session, I just caught this print of 106.20 spy. It's likely to be our high tomorrow, should we rally.