Sp' daily, bearish, count'2
sp'60min
Summary
Two scenarions
1. Wave'1 is complete, and we're now on our way to 1350, maybe even 1370/80 - before the Greek vote/FOMC June'20.
2. Wave'1 is not complete, the Bernanke will upset the market tomorrow, and we'll still put in one final low around 1260/55 by the Friday close.
If its the latter, I'll go long before the Friday close. If its the former, I'll probably just sit back, and wait for this nonsense to top out.
What remains most important of all, the BIGGER PICTURE target remains sp'1100.
The Bernanke can NOT do QE3 if the markets are back in the mid 1300s.That is the one thing I am certain of.
Time for lunch!