Tuesday, April 26, 2011

4/26 11:45

On a broad brush, SP futures are completing an abc to correct the decline starting on 2/18.  An irregular flat should not extend much beyond the 2/18 highs.  Nasdaq high of 2403 may also be slightly exceeded.


  1. Hi Steve - Thanks for your reply last week. according to your I1 model, is today the top ? The market doesn't appear to be weak and could stay at these levels for several weeks because of their smoke n'mirrors (POMO, goose other stocks despite financials being weak). Thanks.


  2. Cynthia, I have two measures, the raw I1 and the 30-day average. Raw I1 was thrown off by the quake and still leads the market (by 4 days I estimate). That would place top today. The 30-day tops tomorrow. If Nasdaq and SP futures break their Feb highs by .25% then I'll stand aside.