02.07.2012 -- Tick tock..

Not much change from yesterday, except I might expect us to pop up about 6 points from here just to touch the trendline and then reverse, but we don't have to.

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Key Levels

Upside -- right here, 1350

Downside -- 1340, 1327, 1314, 1283, 1272, 1257, 1239

still very lopsided

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SPX Daily;

Not really any changes. We started to sell off, touched the top of the bollingers and then bounced right back up into that small soft range we can stay in until something breaks.

The MACD is up to 19.26.. 24 is the magic max of the last decade. So there is room, but we've only made it to 24 3 times in the last decade.

The Stochs are also back up to max overbought.

Volume has been extremely low lately, as was noted by Zerohedge, the volume yesterday was the lowest relative volume of the last decade not including holidays.

tick tock..

GL

CJ