Long Term Trend At Risk

It's looking likely that the market will close today below 3087 SPX which will turn the long term trend down.  If the Long Term Trend Indicator follows what it usually does, it will flip at least once back to neutral before staying down (or turning up).  However, there are no guarantees it will do that before further downside.  In support of a possible local bottoming soon, the MM MACD signal is turning from bearish to neutral at close today, which is an exit signal from the swing short trade from last week. 

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."