lets just call today what it is... thursday, page-3

The hits keep coming kids...

from McHugh

Tuesday produced a down-up-down sequence which continued the integrity of the triangle wave 4 scenario. The mid-day rally was a bit higher than ideal, but still works as a middle wave for wave {d} down. If this scenario is occurring, ideally we should see a sharp decline over the next day or two to around 8700 +/- in the Industrials, and to 910ish in the S&P 500. We are not getting a lot of guidance from the 30 minute and 15 minute Full Stochastics Tuesday. A sharp break south from the get go Wednesday would be pretty good confirmation we are headed for another crash-like decline starting by late this week, or early next. A rise above 9,750 would blow up the triangle scenario and suggest that wave a-down from all-time highs October 2007 bottomed on October 10th, and a multi-month rally has started.