You have to laugh at some of the talking heads.On CNBC this...

You have to laugh at some of the talking heads.

On CNBC this morning they were suggesting a modest up day because SPi was up only 11 pts overnight.

Yeh Thursday night till midnight you dummies.

Every indication is that this should have folllow on.

However so far this can still be seen as the completion of a 4 of 5 with a 5 of 5 to modest new lows to come.

If so then only very little more upside could be allowed.

As expected the Easter break was a crucial time.

More upside over days should probably put to rest the idea of an Armstrong inversion but todays action doesn't do it.

I would guess the odds at 2:1 or better that the low is in.