I would remind, MYSELF, that the "Stock Trader's Almanac" lists as their single best indicator for the start of the best six months of the year, November-April (into May), as a bullish cross of the MACD indicator, I have the Q's there but all the major indexes have it, with the exception of the transports, IYT, as the Dow Sell theory continues.
Naturally, I, HATE, "V" bottoms, sigh, I MUCH prefer to have a positive divergence on the indicators, which will happen IF we go back and "test" the $62 "area", or, even better, the June low, then if we move up with the positive divergence, then, Yea, it's for real. Of course, just by my saying what I "WANT", means their ain't a chance in hell it's gonna happen! "Our" last hope, "Our" meaning the bull's that are looking to buy a pull back, is that the rally Friday stopped right at the prior SUPPORT level from late October, which, IN THEORY, is now HUGE resistance, as support, once broken, becomes blah blah blah. That's the, "Theory", at least, any gap up tomorrow and that's probably the end of that, it pretty much opens the door for a quick move up to the next resistance level at $66.
Egypt is down almost 10% today, I'm not sure if it will have any real effect on other markets, as it's very Country specific, as they're being taken over again by another Dictator. GEEZE, what's with that place, they're getting ALMOST as bad as this country, where we've been taken over by those two DICTATORS called Republocrats and Demicans!