Oct 14, 2014
The moves today were pretty close to what I have shown on the weekend, but a little bit surprised that we moved bellow 1885. Now Y=W and this is the last chance for the bulls to reverse or it becomes 3 or 3 than next target 1825. Odd is - SP500 moves 32 points lower and the DAX is 100 points above the low, McClellan Oscillator moved only 6 points lower, New Highs-New lows moved up, declining issues moved down and advancing up. McClellan Oscillator and Advance-Decline Issues still show positive divergence. Was this an exhaustion bar? If you see a sharp reversal staying above 1885 I think it was. But careful do not get bullish until we see something to the upside.