Just a quick note on the S&P's. You can see that my last forecast of price movement has played out well, at least so far. The market has not been able to get off the ground and so the bulls seemed to throw in the at the end of the trading day to account for the selloff. The overnight Globex session saw markets tumble from the Bank of Japan surprise decision and the US market cash session appeared immune to it as it rallied the futures off the lows and into positive territory most of the day. But by the end of the day, the bears roared back and pushed the market lower through last night's lows.
Price hit the lower channel line support I labeled and has bounce so far. That channel support should hold if the bulls want to retain control. My proprietary indicators are still firing off a lopsided amount of short signals to bullish signals at 140 bearish and only 7 bullish. So the market is overbought and ripe for a pullback. I'm patiently waiting for a signal to get short.
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