Another Cruddy chart.... This is what I get when I use paint insted of opening up photoshop... Photoshop is just a bitch to open up. then takes forever to do the simplest things(like make larger letters)

So.... this is 15 days of the SPY those small little letters(sorry) show the ABC correction. I'm a little Scared that the Futures on monday will make a new high(and a slightly higher C wave)... but in that case it's going to be too late to do anything, but wait it out. and it's best to start with a smaller position. I start with about 3 grand Meaning if this goes bad, my downside is $100 Upside, on the starting trade $300. Then I start getting more agressive.

Besides Pauson showing up and giving every citizen in the country a hand job, I don't see 20 pts of upside in the SPX... Futures have been very muted latley... and the volitility is easing up.

These are the financials..... If you notice the financials lead the SPX up to the A point... then the materials Lead us the rest of the way to the C point.....

This is my outlook for next week... This move on the XLF will accelerate to the downside on monday/tuesday and it will move to the 25.5 level... then it catches a bounce... it will take the market with it. That will be a bounce in the SPX.

I think this down move on the indexes will be an inside move.(meaning no lower low) we will catch a bounce back to the 1400 level....... where we will top out

20 days in the SPY.... this wedge pattern I'm pointing out... seems like it has 2 more legs in it.

This one to the downside.... Maybe monday through Wed... Then a Quick bounce to the 1400 level thursday friday... Where we top out and then we get Financial earnings. Which will Create a move back tward the 130 level on the SPY, and how bad the write downs are, will determin how low we go.

The reduced volitility points to this kind of action where we continue to have muted volitility into next week... If the Write downs are write ups... then we will go up....

It's possible that we increase volitility into this move down.... and instead of waiting at 1400 at the end of the week we wait at 1330...

But an "inside move" that is a move between here and 1330 seems reasonable.

I sort of like to say "I can see the Truck Turn, but I don't know where or how far it's going to go"

of course, I could be wrong.

the interesting thing about this "Stagflation trade" is that materials and transport stocks, should keep a bid in the market....

This 'W' bottom.. is kind of consistant with that. With the non money center financials bottoming in here and each of them then becoming it's own individual story.

For this pull back to have more segnificant meaning we need a massive sell off, a real increase in volitility...

We shall see.