This number is wrong 12812 is what I see as a natural target for this move.

1430 on the spx maybe 1416... I say the spx has to make a lower low...

Melissa , asked about my opening expectations...... Now, I swing trade for the most part, and sometimes will throw a day trade in just..... Well cause I'm sure of it, and I cover fast usually.

I say there will be a bid for the first 20 minutes, we will get some buying, then it will taper off, and the day traders will jump in and drive the market lower......

But What I'm looking for is for a 4 th wave..... a Dead cat bounce, a nice clean bell shaped bid... Which then will fail and lead to the 5th wave downward move.

The fast bid yesterday... just isn't the bid I'm looking for, A third wave is when everyone piles in... that will include the day traders.... so we will extend the third wave after the open.... then we may stall, and catch a small bid and wait for the Non farm payrolls tomorrow.

If the ADP is 150k We may sell off, then catch my 4th wave(dead cat) bounce through the close, and wait for the NFP, at which point we get a full on reversal if the NFP is 100k.... at which point we go back to 1450-1460 , then we come back down again....

We need 50K jobs numbers to retest November.

The day traders will be less likely to cover today, depending on the adp... but I think they may start getting aggressive about holding positions overnight.... which means less of these fast spikes.

The way I trade Honestly I'm looking for a clean 4the wave correction then Chase the 5th wave and clear my bets.... I'm not sure if I'll flip into a long position immediately.... if it wasn't for bank earnings I would try a regional bank... but maybe a materials, or industrial name....

I also have a tendency to get out of a move early...... Better early than late :)