With the main all closing a touch higher, tomorrow is all set for what could be a VERY major bearish reversal day..after some form of opening gap/Bernanke spike.
The closing hourly index charts...
IWM
Sp
Trans
Summary
I'm somewhat tired, today seemed busy with a fair bit of 'stuff' going on. At least the German court is out of the way, along with the iphone'5, and now we can focus on what uncle Ben will do.
The media networks seem VERY confident of QE tomorrow, endless guests all day who are all looking for QE of 300bn at least, maybe more.
I'm still targeting a re-short around sp'1445/50, preferably BEFORE the Fed announcement at 12.30pm, but I am trying to keep an open mind...cause you never know.
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*I think I'll highlight the transports hourly from now on, its a cleaner cycle than the Dow'30, and being the 'old leader', perhaps will be more use as a warning of tops/bottoms.
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More later.