TSE Feb 17 (written 11th.)

TSE feb 11

The action today was wild but consistent with the triangle idea, now more than 4 months old but also with the alternative that may fit the S&P slightly better. Either way we should start our serious decent soon as we only have 3 weeks plus left to get to about 6500 (still above the 2003 low!) Lets see what happens in the next few days. The last two or three days we did a first little leg down that was corrected late in the day, perhaps tomorrow with the holidays etc. the market will want to be flat and we could see a little more downside.