Market Rolls Over And Plays Dead

Remarkable action today on the S&P.

Note the fakeout to the upside (circled in pink) on the MACD and Slow Stochastic indicators.

It appears that the rebound is over, and we are headed back down as the Euro crisis deepens.

My wave count shows us breaking through the 1300 level and falling to 1280 at minimum, and possibly the 1255 level.

Comments

  1. Nice, same results here using different methods

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