damn you know I should stick with the 3 peak/trough rule. then down happen, or rarely. I expected that the SPX when it tapped 1248 that its would be the 3rd of the rising trendline since Jul15th. That calls for the break down with a target of 1208.
But after the expected bounce the SPX kept griding up on drop to sub 120 oil. Markets surged and kept climbing while oil consolidated above 120. So now after the close of the oil and bond market which has been driving money into equities, the SPX sells off on profit taking as we are not back down at that trendline again around 1250. A break here is what I initially expects and then doubted on the grind up. So lets speculate again 1208 for the SPX and potential double bottom on these markets so we can buy into them.
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