Bears Won Today

Well the bears had a ball today! As was expected the Transports have been leading the charts and warning us that a day like this was in the works for weeks now. So I am not surprised.

Have a look at the hourly chart on the S&P it was pretty much a bearfest day from start to finish!!

With the TRIN over 2, and tick heading to the oversold area, I do think that ( Level For VIP MEMBERS ONLY ) level is coming very soon.  But patience is required.


On the daily chart the S&P is still within the upwards channel, but after today we zoomed back down and stopped right at the bottom of the rising channel. So now we are at a make or break level. The next few days will be interesting!!!!

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