Whilst the market remains weak - with nano-sized up cycles..lets take an hour to consider something I posted a few weeks ago.
SP' monthly... '5 of the infinite scenarios'
My current 'best guess' remains B.
Its based on the outlook that the Bernanke will appear sometime this summer with QE3, enough to cause a major bounce in the market. Whether that takes the market straight up into 2013..or just puts in a lower high (scenario C), we'll just have to wait and see.
There is a secondary idea I am considering, but I'll post more on that later.
---
So, which letter did you pick?
--
Brief note on the SP'60min
More across the afternoon...when bears should be looking for increasing market weakness in the closing hour.