Tuesday, January 29, 2013

Charts 01-29

The McClellan barely moved today, suggesting that a big move is coming soon.

I've got enough subwaves here to call this complete, but we could replay the same familiar tape -- slight drop in the morning, and then the algos take it from there.

Looking for a deep pullback over the next 7 days, all the way to the lower trendline support.  A brief, shallow pullback or sideways move like August 2012 could mean a much higher final high, up near the 2000 and 2007 tops.

SPX 01-29

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