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[blustar]

Gann said never buy the third day off of a low. Today is day three. Those who shorted yesterday were a little early and I warned about shorting this market yesterday unless you were the nimblest of trader. Ideally, the 4 day cycle low is due Monday, but can run 3-5 days. Usually, if anything, the cycles tend to come early at this phase, so I would expected a higher top around Tuesday's full moon in Libra with more down side later next week. Like I said, I believe this is a buy the dips market for now. The usual 10 week cycle low came in early at 41 TD, and this is a hallmark of left translation bear market activity.

With that said, we are, IMHO, in a secular bear that has much farther to run, but for now the daily trend is up, albeit counter trend overall. The SPX could go higher than my projected 1250, even up to near 1279-80 by early December. The October through March bullish phenomena should hold this market from caving in until around the Apr-June period next year, just enough to suck in the last of the public's IRA money.

Good trading to all!

blu