so far, only 2 points higher than yesterday's high, and bulls are feeling invincible with high sentiments.
if a few more points higher, bulls will shout loudly of new bull market to historical high, lol.
PS. i am not a bull.
13:00 pm update:
i am looking for "much" higher price than $spx 1304 because of MT and Intermediate term most bearish impacts.
12:31 pm members update:
it's the best case scenario as previous updated ... wave b already completed, and $spx makes new recovery high above 1303.
use red trend channel as guidance.
Egan Jones downgrades Germany to AA- from AA.
pre-market members update:
because of the timing issue, looking for a bit lower price after the open, then a new recovery high above yesterday's 1303. ...
at day high, both $spx and $rut was at their corresponding MT red trend channel resistances.
both $spx and $rut are proceeding with the textbook pattern. (might post them later).
$vix never made a new low on today's market rally, a non-confirmation. often $vix bottomed before market top.
financials closed in the red, also a non-confirmation.
$rut only up 1 point at the close.
issued a pre-market special morning report, fully featuring current market in short term, medium term, and intermediate term.
as you can see from the charts of below post. for the whole year 2011, i never failed any medium term and intermediate term positions, both long and short positions.
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