Your Economy (No Politics)

[Bullwinkle]

I think we are about to resume the decline, maybe another day or two of upside but I think that will be about it. While I could be mistaken, we are currently sitting right about the 50% Fib retrace from the COMP high of 2193 to the 1900 Pivot area.

Basically in a nutshell, we have tested the 61.8% Fib retrace at approx. 2008 and bounced to the 50% Fib tine where we now presently sit at 2046. We could move higher and fill the gap at the 2070-2080 area which coincidentally is a douple top of sorts and is now resistance. It also happens to be a 38.2% Fib retrace at 2080.

We also have a Bradley Turn date due on/around the 27th with this particular turn date being one of signifigance. Since we are in a slight uptrend and IF the date proves to be reliable coupled with the previously mentioned technicals, I would say we are getting ready to head down.