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Five waves DOWN :) . There may be another five waves DOWN to SPX 1040 :D .

Gold may be going UP to 1400. USD/EUR to .86. Light DOWN to 55. EUR/USD to 1.14

BEAR Trap AGAIN??? :confused: . We got our SELL Signals; neckline crossing and a lower low. Mr.Market then gave us a Hammer :eek: . BPNYA turned DOWN from resistance. May be going DOWN to 12. Equity Put/Call R20 crossed "W" neckline. May be going UP to 1200 or 1400.

Note 3 fractal patterns. The BULLs have got their two BEAR Traps. This time may be different :confused: .

Third right shoulder formed as an Evening Star. There may be a lower low before a higher high.

One more Head and Shoulders pattern :eek: . 50 DMA and "M" neckline are resistances. 200 DMA and "m" neckline will be next resistances.

"Head and Shoulders" versus "reverse Head and Shoulders" :confused: .

The 5-waves DOWN is decisive :eek: . A normal bearish count would expect a 3-waves rebound to below SPX 1090, then a continuation to SPX 1040 :D . A GAP UP from 1090 to 1115 will be a surprise :confused: .

We are at a cross road, UPorDOWN :confused: . A rebound from 50DMA to 200DMA will be the most problematic pattern, something like a Morning Star :eek: . Next "higher high or lower low" may be the answer :D .

A dim but still vialble hope for the BULLs is a Bullish Fractal pattern :confused: . A rebound from SPX 50DMA.

Next puzzle that Mr.Market will present to the BULLs&BEAR may be "Head and Shoulders pattern" versus "reverse Head and Shoulders pattern" :eek: .

Oops!!! :eek: . Five SELL Signals: RSI, 200DMA, support trendline, m-neckline, MACD :cool: . Two more are in store: M-neckline, 50DMA :confused: . $BPNYA begins to change direction.

UTIL leads the way DOWN. MACD cuts trigger line DOWN. MACD of other indices are turning DOWN too.

Oops! :eek: . Wednesday was the last high as expected :cool: . UTIL leads the way DOWN as MACD cuts trigger line. Equity Put/Call R20 = 880 which presaged 6 previous drops.

Today may be the final UP Wave 2]b)c.5:c :confused: .

Fifth wave UP :cool: . So Mr.Market finally did what should have done :D . Be aware of the BULL and BEAR Traps. Red line for SELL Signals.

Five waves DOWN, three waves UP. After the fifth wave of :c, there may be a 5-waves DOWN to 1065. $UTIL may lead the way DOWN. MACD is changing direction.

Looks like a 5-waves DOWN. SPX 1107 may be a resistance. Long term investors are selling (200DMA) Mid term investors are buying (50DMA) Who will win?

The most confusing pattern would be a 5-waves UP, because it can be wave 1 for the BULLs or c for the BEARs alike. If the Market falls from 200-DMA after the Evening Star it will be a clear signal for the BEARs. So Mr.Market may choose a 5-waves UP.

So we got our Evening Star :cool: . The red lines are for SELL Signals. The blue lines may be BULL or BEAR Trap.