Slope trajectory moved up a little bit from yesterdays' (purple line), as you would expect. Today's close put us side-by-side with tomorrow's shrunken body. Let's see how much of the 11/1/2007 distribution (relative to slope) this little rally wants to reclaim tomorrow. The bull market gets to make one of three choices here: (1) drift sideways and let time (like 8 days or sticks) do the heavy lifting for a possible trend reversal, (2) reaccumulate the 11/1/2007 distribution now and beat everyone to the punch (climb the wicks), or (3) follow the trend. We'll see.
I've also kept that Stockcharts chart I posted before and simplified it into something very general but perhaps useful for seeing upcoming influences upon the 20ma slope :
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=2&dy=15&i=p90087288160&a=121314332&r=6452.png
