c79 - that is not the attitude - you are supposed to rush out...

c79 - that is not the attitude - you are supposed to rush out and buy the latest model!!!

I keep a seven day chart of the SPX. Just got to update it for the past couple of days. There are two important lines on it that both came through pricisely on last night's low. So regardless of the fact that the 5 day a week chart breaking down, on this occasion I have decided that I am not going to call it a downside break until last night's low is clearly broken. There have been a number of occasions over the years when the two charts give slightly different vibes but often I have found that it is the seven day chart that has proven right - probably because most analysts don't take the weekend days into account.

So - hanging by a thread but not yet broken.

If I get up in the morning and both these lines are broken, then I haven't lost much - just one day.