It is worth noting that the low today met several targets on the SPX:
- Upper Support established in September
- A = C since the October high
- 50% retrace of the October rally
It also looks very proportionate when compared to the March 2011 pullback.
My main 60-min indicator hasn't bottomed yet, but it is starting to slow. Could this be the start of a tradeable bottom? I don't know yet, I have no dog in the race (I am neutral at the moment, see the post from a couple of hours ago). But if it continues in this bottoming fashion tomorrow (and continues to turn my main indicator), then I will consider it more strongly.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEimtziyi_2QLdZjeF9wfMIxxqZODeJyLK1yuR0yA7_NIy_HTWPqODemTBZJ8Y1ERFHlAkJbS-ay77VVP1vC8FXIOTVJmFerxDJwPVDXbkJM4w12NrFWKVEYGnjd419wNfm-XXyrJCPbfLD3/s320/001-binve_02.png)
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