Here is the kind of chart that day traders are looking at, or should be looking at. S&P 500 in a 30 minute view shows how important trend lines can be (not very, when compared to lateral resistance and support levels).Well, we have still not hit our minimum and favored upside target yet of 1013 or the 'throw over' level noted in NFTRH as possible by a monthly (big picture) view. That is a level at which point NFTRH would have to begin considering a new bull market. First things first, the 1013 is simply a 38% retrace - to visual lateral resistance - of the entire crash. At this point it's all according to plan.
I see where Abby Jo has recently declared new bull market. Wonder if I'll be joining her soon. Don't know and at this point don't care. All the bull calls, from Russell to Cohen have been part of the plan. They may or may not end up being right on a cyclical bull. The charts will tell when they tell.
Edit (2 minutes after posting) Bingo... SPX 1013. Now if only it would reverse right this minute! Yeh, fat chance I know. :-)
