We are at the edge of a large rising channel, looking for us to start heading down to an IT low into the May 1 FOMC. Ben will bring his bag of goodies, should hold us into the first week of August.
New Moon tonight. Did we top today? /ES may tell us overnight; a gap down here is not a big deal, because we'll be back up here in a couple of months.
|SPX 03-11 5Y|
Speculating that a move across the channel from here would be a nicely-balanced zig-zag, with the first leg running to support at 1448. The zig-zag shape would fool bears into thinking the c leg is a wave 3 in progress.
|SPX 03-11 2Y|