12pm update - me want puts, but me wait

Another somewhat tiresome day of low volume nothing in the US equity market. The sp'1720s look very viable, although the two leaders - Trans/R2K, are looking real tired on the daily charts. All things considered, not too long to wait now.


sp'60min3

Trans, daily

Summary

From an hourly chart count perspective, its still highly arguable that this is a fifth little wave. The only issue is how much longer?

I've be surprised if it last into next week, but it sure wouldn't be the first time the bears under-estimated an up wave.

I will merely hold to the original outlook, seeking an index short...in the sp'1720s..which looks viable tomorrow...not least due to the next QE of $5bn.
--

Time for lunch....

*here is something rather apt.



yours...still waiting.