at the litmus test todayTRANs have got long daily tails which is...

at the litmus test today

TRANs have got long daily tails which is a good sign however the TED insistant northwood trip is a sign that the loose liquidity if shriking albeit at a distance that can still allow uptrend in the US and redraw new (credit) debt into equities......

if my pov is correct, then, we should complete the W shape and head north...... i suspect a northwood trip to be less than impulsive and to see the ADV/DEC line to chop and slough its way up.......there is a mass of shorts down here so likely the volatility to remain........just catching the bulk of swings is work enough

holding the cash 1141 spx is the key today as a close below that would confirm the downside, imo .....premarket futes are getting as low as they can on the euro/greece slop......but not like anyone doesnt think the default will occurr blah blah

long spx 1149 stop at 1139 with only real news swing coming with thursdays smash/grab unemployment .....more important imo is the fillyfed report friday.....that'll be fun!