Very bearish

The market could not even bounce back to pivot (616), but experience says if it fails at S1 (611), short. Tormorrow's numbers are 612, 609 and 604. A turtlesoupbuy signal is out today but probably will not be too effective under these conditons. Target 600-595ish is still in play for the next few days. After that a rally from a falling wedge scenario should be unfolding.

2c

Say Bye to 627

You probably notice by now all of the narrow range NR7/4 in a down trend would break to the downside. The reverse is true for an up trend such as in POT. As mentioned before the moving average at 619-620ish has been keeping the market down so far and it was no different this time. Today, once it broke pivot 618 to the downside, it never looked back. Tomorrow's numbers are 619, 616 and 611. Expect a bounce to 616ish and fails. The near term target will be around 608, at least a retest of the previous low, then onwards to 600 or SPX 1300ish.

2c

NR7

Tomorrow's numbers are 621, 618 and 615 with a 7 point spread. It is not quite a narrow range but nevertheless narrowest of the past 7 days. The market is at the moving average where it has been turned back every time since May21 this year. Not to say it cannot surpass it but odds are for may be a couple more days of trying to reach 627ish before continuing its down trend.

2c

buy signal

It reached the first target/resistance at 619. If it can take out 619 then the next target is 627 or SPX 1375 before it falls again unless it breaks the channel to the upside. Monday's numbers are 622, 616 and 613. It is expected to retrace Monday but for the trend to continue it has to close above 616.

2c

No turn yet...

Did not close above pivot 612. Traders were cautious ahead of PPI/CPI tomorrow. Friday's numbers are 616, 611 and 605. The Nasty together with AAPL and RIMM are turning south. It is risky to leave positions overnight. There is no buy signal yet and even if it is turning the near term resistance is 619ish.

2c

All bets are off....

The market is more bearish than orginally thought. There is a very high probability that it will bounce tomorrow and if it does not then it is like January of this year with a long grinding downward and will be scary. Tomorrow's numbers are 615, 612 and 605. The only sure thing about a turn is when it closes above the pivot 612 tomorrow. In the past few days, it has been falling from daily pivots. All indicators are lagging and they can only provide a probability of success. In other words, sadly tomorrow has a better chance of turning than today. Price is the number one indicator and if it closes above pivot then it will turn. But then again fundamentals can crush it down again.

good luck

2c

Fingers crossed

Tomorrow's numbers are 623, 619 and 615. It is an inside NR4. Price and volatility at extremes, selling sentiment falling....better have a rebound tomorrow and the minimum target is 627 else the bears will come out again.

2c