4 days of the spy

well, I was suprised it didn't roll over more, and surprised that it then head faked and rolled over to a new low.... that is a nice healthy correction, Rule of thumb is that we you end on the lows, it provides a bounce at the open. This wave does show a nice ABC correction.
The xlf finally showed some weakness, threw it's wedge and wants to correct, one could suggest that it isn't over. Also that white line is the trendline... and it could just catch the trend and keep on Keeping on.

so, we come back from Hurricane katrina on tuesday, Some of the oil weakness is already in the market, it's also possible that the oil bears will hit it, and push it through 110, but that could be an important catylist, as it breaks that level.....

The Non Farm payrol is next week, traditionaly we decline into it....
Here is the Daily spy.... have we had an aversion trade before the big breakout? into Euphoria? Umn.... Will the Catylist be oil? NFP? Options Expiration? This chart shows the Pennant? and the possible base? for the euphoric move. The Qqqqqqqqqqq's... Are they Building a Base? or are they going to leg down with the rest of the market..... Are the Q's in "Dip buy" mode, and making a bottom, a Lagging bottom with the rest of the market..... Will that mean that as a Laggard they won't make a new high? IF the rest of the market Wants to?

Did you all notice that oil wanted to trade 115 seems like the Mean reversion of the current range.... Will that be important resistance in the future?