11am update - a real mess

With the big 1400 level being hit, the clown networks are starting to get hyper again. They'll probably be bringing on the sp'1600 cheer leaders later today.

It is notable that whilst the SP has made a clear break above the channel, other indexes are still holding within.


sp'daily5

NYSE, comp, daily

Summary

Very little to add, this could merely be a capitulation day, but arguably any 'big money' bears are out of this, and back to spectating. After all, the immediate trend remains UP.

19pts to go, and then the 'wave'1 theory' has to get trashed.