QUICK UPDATE: Stunning mid-day swings. There is a lot of ambiguity out there for the S&P 500 (SPX), but considering related indices have completed TD Buy Setups, inclination for any selling is to be contained – Unless SPX 1850.61 breaks.
As an addendum to this post, DeMark was on CNBC presenting his 3 Terrifying Charts, which really isn’t terrifying at all. His third analog chart shows sideways, range bound trading, with one more low, followed by a run to new highs. That is the chart that fairly mimics our primary case where the overt bullish sentiment is washed away through time, rather than price. Here’s the link: http://video.cnbc.com/gallery/?video=3000496403