Breadth finished at 1.56:1 advancers.
Levels to watch for confirmation of a trend change on Monday would be 1136.75, followed by 1131.52.
9:32, Here is one possible micro count. This has the 5 of "C" completed, but it is possible that it needs one more micro squiggle to finish the 5th. I am just waiting for that trendline of support to give way!!!
8:47, Still waiting for the SPX to break through the Fib fan at 1137-1138 to get the ball rolling. There has not yet been any higher highs, nor lower lows made this morning, so far the trend for the day is neutral, and the current breadth confirms that , running at 1.08:1 decliners. We did have a full five count impulse wave down from 1142.36 to 1136.75 this morning, so it is possible that we might be in a 1-2 down count, currently in wave "B" of 2. Still too earlier to put much confidence in this count.
This is an excerpt from Mish's post this morning.
Humm- They dollar amount of the benefits paid out in December grew by 24% from the November numbers, but yet there was only a reported 1.7% increase in the number of recipients. Something is not right here!!!