face down friday, page-152

yesterday I was bearish, today I am bullish, tomorrow I'll probably sit on the fence.lol
HBG, if you take your charts back a little further, say to May 2001, you will see that the SPX resistance was 1310, seems as though Fridays action, touched the resistance and respected it. You could almost call it an inverse H & S, using May '01 as the LHS, and June '06 as the RHS.

Also, as of Friday, the SPX is still in an uptrending channel, starting in Mar '03 as the start point and Fridays low as the 2 points it touches.

However, this bullish position conflicts with Voltaires excellent cycle analysis,which still suggests we are in a downtrend. Analysis of the XJO also suggests it will go down further to touch the lower rising trendline.

points to consider, but it appears as the though overall picture is still bearish.