one more try , page-14

I found it hard to believe the SPX could get through 1250 as it had so many "wiggly" lines to get through (BB's ma'a and other things). Those barriers were all close together making in very solid.

On the weekly, those same barriers were below the price but spread out more so stood a better chance of being taken out one at a time. What happened was most were taken out and the most extreme was touched BUT the market has rebounded and those barriers count on a weekly or monthly closing basis.

So we really are stuck in the middle.

The bullish argument could be that what we saw was another "Shanghai Slump" like Feb/Mar 2007. That too was quick and the vanguard of what was to come, but it recovered.

The low at that time was the usual 155 can days from the August 2007 mini crash and panic. 155 from last weeks low is ninelives Oct 8 predicted low. Of course we know that is a more dangerous time of year and also that Oct 10 has more severe or major lows than any other date in US history, but is a Sunday so 8th or 11th is closest.

If that is in play it might suggest an August high.

So although I lean more to the bearish side, I am cautious till XJO 4500 is seriously taken out on the downside.