I took the girls out for a museum day on Saturday, starting with a bus ride to the Burke Museum of Natural History at UW here, a couple of bowls of pho for lunch, and then a visit to a good used bookstore. Perfect day. I snagged a Grosset & Dunlap edition of Tom Sawyer for them and Alan Moorehead's classic White Nile for me. And some Peanuts paperbacks -- the girls really enjoy old, old "Peanuts" and "Nancy" comics, pretty far-out for the youth of today.
Small change in the McClellan oscillator today, suggesting a big move ahead, which I think will be up. I spent about an hour staring at the chart tonight, trying to pick out waves. Either we're moving in little triplets right now, or we have to wait for it to emerge and make more sense. The tidy channels I drew last night were bent and broken today, but trendline support held. 1440 is an important level on the chart.
1480 still sounds good, possibly by the end of this week. I'd short that.
Crappy finger-paint sketch tonight, I want to suggest the possibility of a diamond-top pattern if we pop up hard the next couple of days. Need more data!
|Diamond-top forming on the SPX?|