monday, page-30

Although I feel SPX should correct, it is trying hard not to. A few indicators suggest it might happen right from now, although bullish percent still pos, although a decent down day would change that.

It is worth keeping in mind that Ferrera has it sideways to up till about Jan 22 then taking off again.

So if it doesn't correct by then, I will be wary, as just the sideways action may relieve some of the overbought status.

XJO I suspect is holding to about Jan 16/17 which is the 1991 low, then probably moving higher for a while.

Suspect we get the usually sell in May and go away till sierra's 10/7/2011 then up into Aug/Sep, then down hard then a Santa rally.