A RETEST

Yesterdays action took us back down to the 1165 to 1168 area without excessively high minus tick. We only had 8 instances of a minus 1000 tick or greater on the move down. Then the  rescue squad came in later in the day to get the market almost to unchanged and we are now trading back toward the 1180 area as of this morning. Remember that today is another POMO day that is explained on the N.Y. Fed's website. Did the market already price POMO into yesterday's action? We will find out today. We are in the early stages of another box formation so be careful of the upside in the coming days. Those who have attended my seminars know how powerful and reliable the box pattern can be. The daily CCT took a small hit yesterday and stands at +178. If you are interested in upcoming seminars or in signing up for my daily advisory service, please call the office and ask for Jill.