Today the SP500 appeared to make a turn up, although on low volume. It would also appear, at this point that the primary cycle low was made on November 2 in which case it would be best to clover all shorts and look to get long.
Although the SP500 did not make new highs the DJIA did. This is either a case of intermarket bearish divergence where both indexes will fall in the next couple of days or the SP500 will follow the DJIA to new highs. It would be best to monitor both.
In the current environment where the US$ is falling and apparently will not get support from the US Treasury it would be best to assume stocks and commodities are on their way up. It would take a fast and substantial reversal in the next couple of days to change this opinion. Trading is difficult!
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