MM Afternoon Notes

Tricky trading in progress, and probably continuing for the next day or two.  MMI is looking for a down close today.  However, the MAM was cautioning of a bounce (in progress) and the MM MACD is looking for a bottom to be forming.  Note that this is not a buy signal, as it would take a close today over 2635 for the MM MACD to turn to "BUY."  There is no call for tomorrow as the pattern is "undefined."  Thursday is pointing down and Friday (preliminary) is up.  Chart below: 

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."