Yesterday’s price action failed to erase Tuesday’s losses.  Essentially the momentum of this trend is starting to fail.  We’ve seen the S&P500 trade around the 2000 mark for over two weeks.  Each time we’ve climbed above 2000 it seems like a magnet has pulled us right back down.  There’s just no conviction to drive this thing higher yet.  The MALG-trend has rolled over and is now negatively sloped.  Given this set-up, it’s possible we’re in for a test of the 50-day moving average to see if buyers re-materialize.  That could mean another 20 points or so of down-side could be in the cards in the not-so-distant future.

Daily Digits

Daily Digits 9-11-14

Weekly Estimated Range

Weeklies 9-11-14

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