*Consumer Sentiment data: 79.3 vs 77.8 expected, highest reading since October 2007. Yep, we're back to those 'happy days' again. Maybe its time to start flipping houses once a month?
Sp'60min
VIX'60min
Summary
There again seems to be a growing consensus out there that we are still in a wave'4, with a 5' still to come. I suppose if that is the case, a 'capitulation day', next Friday, at the next big jobs report release?
Now, wave'2 (if that's what it was) lasted 3.5 days before the market slipped away on Friday May'11. Currently, we're 4 days into this sideways move...or just 2 - if you are look at the Dow (which was the one index that made a new low on Wednesday morning).
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I'm inclined to believe we will still slip at least little lower next week, before a larger wave'2 UP.
More across the day..