My mid-term (3.5 day) trend indicators turned *up* today. I tried to get long, will try again tommorow AM. Subject to change with tommorow's AM action.
Pete, I am expecting tomorrow to be an up day, with tomorrow's close or friday morning the end of the move. Then expect things to sell off in typical october fashion.
The bottom we just had around 1300 was the 50% retracement from the August 8th bottom around 1200 to the September 18th high around 1400. Using the "higher highs and lower lows" definition over this time frame we are still trend up.