OK, Maybe We're Getting SomeWhere

I'm not a "I called it" kinda guy, because that's just dumb, and dumb luck. We're just using indicators, we're comparing charts and market behavior and coming up with ideas about what may be happening and if we get hold of a thread, then we pull until we unravel the whole mess. 3C what I believe to be a truly unique ability to either ferret out the signs of accumulation and distribution or once found simply make them more apparent than some other indicators, but it's my baby so what do you expect me to say.

Last night I posted a video about a Broadening Bottom taking hold in the Q's and in my text portion of the post, I mentioned the need for VIX to make a stand once and for all. Today the Q's have kept with the Broadening Base theory and the VIX has gone a long way toward making something more like a stand. Furthermore, what used to be a nonsensical mess to look at, has now become an organized and improving picture and I'm talking about various breadth indicators-maybe I'll cover them in a video tonight. If you watched last night's vid, you know 3C is calling for a rally. Today has improved that picture, but I caution-this market may not be done just yet. While we may have a decisive answer today (and we may not) there could just as easily be a retest of today's low and a new high on the VIX just for good measure to wipe out any traders who got a little too excited a little too early.

A move in the Q's above $45 on a close would say, "We are ready to do something other than simply go down" and will have broken the chain of lower highs, lower lows. At any point a short squeeze could really change the mood drastically. However, not to get ahead of oneself-we are still in the proverbial downtrend. And should we rally to $48 or even $50 on the Q's-we will still be in a Bear Market. It's good to keep track of just where you really are.