Thursday November 8, 2012

So not much of a retest. The S & P 500 bounced above 1400 for less than 10 minutes when the stock market opened this morning and then pushed noticeably lower.  Still looking for a bounce of some nature just to confirm the bearish trend.  Will not add to my bearish ETF until we get a little technical bounce.  The next Fibonacci retraces are at 1371 and 1350 although i'm more concerned about 1375 which has a good amount of volume being a previous resistance level.