Trends....

Alright Traders of this site...lets look at this trend...technically the trend for this wave is still Bullish until we break some serious resistance levels such as 1050 on S/P.   Yesterday we did break 1080 which was a key support, but  the market quickly brought the downside move Sunnyside up again.  Thats what has me a bit, well, spooked. Then as I stated yesterday in comments, I have not been a good trader due to weather and my job. But I blame it all on Brett Favre! Seriously, I have not done my Homework, and I am failing at this test this wk terribly...so with Amazon giving earnings and the 1080 support hanging in there, we could have turned this back around and maybe heading back north with the bullish trend.  So, is this just a large B wave down? is it a larger degree 4th wave and is it an E wave that came out of the ending Triangle...????  or did we really start P3?   Hummmm    If it is an E wave, max target retrace is around 1025-980, If it is a B wave it can double dip but usually takes the position of 50% retrace..666 low/ 1150 high = 483.66 @ 50% =241.83      1150.45-241.83= 908.62     right at a correction in the move up,  so we  have alot of posible moves in this corrective faze, so we need to be on-guard! and very protective of any profits that you might have... OK, Have a great day trading, and Happy Friday to everyone...later >L