12/27/12- EOD Update

60 Min

Welcome to Mr Toad's Wild ride. The market is chopping up in down in a knee-jerk reaction to any news related to the fiscal cliff. I believe I mentioned this last week to be prepared for this.

The bulls saved the 50 day but could not recapture the 20 day. The bears got their daily MACD bear cross and may be setting up a head and shoulders top

I adjusted the counts for red and blue. Red is looking for another poke down for [v] near 1400 again. Blue is looking to finally bring in a late Santa Rally on some more positive fiscal cliff news.

We'll see how they play out the next 2 trading days.