SOX and market update
The SOX still needs to make another close at 272 before markets will turn down and we will see that within 4-5 trading days most likely around Tuesday.
Oil makes a 12 count today and should top the A wave around Tuesday as well.
The classic will be a higher opening next week followed by a turn with follow through as the market is hold up by eager manipulation through Futures buying there is no real buying interest for now just a lot of noise from the ‘boys’. Even today’s Futures volume is very thin we are in a distribution and the bulls are running out of steam it seems as the ‘green shoot story’ has many bugs. I have a ‘deja vu‘ with how it felt 1 half of 2007 before it turned south but overall still 2 -3 months to go.