I did read from somewhere most break-out´s actually fails and this looks alike one also. It is weekly chart double-top, if going for daily chart fifth wave was reasonable easy to see because W4 took contracting triangle with it but yet it looks somewhat neutral where upside path is somewhat closed anyway.
Well, bounce for 1200-1250 might be ahead at somewhere in the future but I am having thought this party in way much bigger terms is over. It will be interesting autumn…
Greece and Israel (jews) stock exchanges (Which both allways had been leading indicators & charts with EW to correlate well with US market (nothing to do with current Greece depth or budget troubles)). Anyway, Tel Aviv is open at sundays and might suggest slightly positive day for tomorrow, there is “Gaddaf” rally going on.
Have a succesfull week & pleasant sunday evening,
