Red

ya right here is a critical point in the day if we rally it could be a W.C of W.4 which could bring us up to 1093 aka the 50% fib line. But if we start selling then we are in W.5 down and well see new lows on the day.

There is an illustration on my site for those that may be interested…

there is your 1088. Looks like a serious wave of profit taking from short positions,

now we see how bad people want out.

You know Ben, a few months ago I would have said the same thing. It looks like it should bounce, and maybe it will bounce tomorrow… I don't know?

But my gut tells me that they won't let the bulls out on any rally back up, just like they didn't let the bears out on the ride higher for the last 6 months. I personally think they will gap it down tomorrow, and trap all the new bulls going long around this double bottom area of 1065-1070.

But, I've been wrong before… a rally and and then a crash is possible?

for what;s its worth Jaywizz (strauss) sees pop tomorrow am followed by sell off to 1050-1044 $spx

if it doesn't get through S2 then forget it…

It's losing steam already it seems…

I see this shakeout failing at 1088 then resuming the selling into close…. what levels are you looking at?

That's the brightest green on my Yahoo screen. Pretty scary.

This move up will shake out a lot of bears now. Many will think that the bottom is in now.

my 5min macd rolled 15 ago and the 15min macd just rolled… so we could hit S2 @ 109.22