3:30 post

Here are 2 SPY charts.. the 2 day 5 minute and the 1 month 15 minute.  What we have here is a failure to advance.  A series of lower lows and lower highs.

Click to Enlarge

Click to Enlarge

The Momentum Change indicators are still holding the Sell signal last confirmed 2/22.  I don't feel there is any special insight that I have about how this is going to resolve its self.  I felt yesterday that there was a good chance that the market could sell of from that attempt and failure at the 130 level.  Now, I don't have any idea what tomorrow will bring.  I guess that we will see a very small change in the McClellan today, which will signal a large move in the next day or two.

Sorry, but I don't have any idea.  Better to sit on the sideline and await the next fat pitch.

Best To Your Trading!

Bill