Well again - we got our pullback from 1130 level in SPX and have been sliding down. My target was 1076 on the SPX and we closed a bit below that level. Its hard to say right now - I really want a nice reversal today and I think it might happend. Look at the charts and you see the bullish divergence (triple divergrence strong signal) and falling wedge. Aroon oscillator gave us buy signal yesterday which is very bullish so watch out - if we get a reversal it may be a very strong rally. I still hope we are making a higher low on the indexes and hope for a rally today - if not latest monday next week. If we look at the VIX it backtested the breakdown of the HS pattern which was successfull yesterday - so a reversal in the VIX should happend from here. I was expecting the VIX to reach 30 and backtest the line and then move back down. So yes I am still bullish and think this was the pullback and we are getting ready for next leg up, a lot of bears are talking so much at the moment I think they may be sqwiiized, but again would like a gap down and then rally. Have a nice day
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