Note to self: wait for the mkt to fall 24 cents before making bullish prediction.

..or at least wait 1 or two days.  Litterally, the next day, the makt failed to take out the down trend and MovAve mentioned in the point and figure charts and then began it's plummet (for lack of something more pejorative).  The early warning signs at 265 and 261, would have helped, but probably the catalyst was Euro's big drop the very next day. 

So, does this mean that the second hypothesis of 240/220 is likely?  Probably, but I can still make a loose argument that the Expanded Flat had not completed it's five wave move down at 254 and is only doing so now. If so, a good target would be the 242 area.  With 4 straight down days and today's arguably down, we need a correction.  So, if it does get to 242 tomorrow, buy it blindly. Or, be patient and wait for confirmation of the resumption of the trend. 

Funds should be nearly 5 to 8 k net short as per COT report. 
Daily bullish doji harami today
Blaring H&S pattern targeting 2.00.
Baring any Europe catastrophe, I think equities will resume uptrend too.



60 Min - would like to buy into the red rectangle.

Point and figure - downside targets being confirmed with a very aggressive target at 212. 

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