whoooosh wednesday, page-53

SPX 4 hrly still has alot of work to do. Still overbought with a lower high. It will either need to push very soon and make a charge at 1070 and make a higher high which is the bullish scenario where the pullback will also be short but vicious; or the ultra bullish scenario is to work off the overbought nature of the market consolidating above 1040. Either way - the SPX has a 15 pt safety net in other words even if it falls 10 pts tonight it will still be a buy until a lower low is formed at sub 1016 and I can't see the SPX going sub 1000 for a long while.