I am putting the BOT short signal back on again on the sp500 at 1310. The bounce is not arriving and I would rather put the signal on now. Whether we bounce 10 or 20 sp points from here seems to be a mute point for now.
Yesterday was a HUGE sign of weakness and today is the shock factor after the fact. I am thinking we should eventually be able to hold under 1313 which should possibly get the market moving with new momentum eventually towards the 1250 level. But that would take a bit of time, or not ?
I continue to be amazed at how the market seems to be conforming to the 8.6 year cycle in real time. The rejection yesterday was a very key day for this market in my opinion.