Thoughts for the upcoming week of 12/8

From what I've marked on these charts of the SPX, you can see I'm tilting toward the idea that we do see a move lower into mid-December. (Obviously if the market just marches up past the .786 retrace level at 880.41 rather than reversing down, then "something more bullish" would need to be examined instead!) I'm not in the camp that expects a mid-December low to go under 741; so, either way, I'm basically looking for a move higher into the coming months. Just stating my point of view - not trying to tell the market what to do (let alone arguing with the market - always a losing proposition).

By the way - I think the updated Chartsedge weekly cycle chart, which I posted here Friday morning, did an awesome job including predicting the huge move up Friday afternoon. I'll post their weekly cycle chart for the upcoming week as soon as I can this weekend. (Their subscription includes emails for the weekly chart, which they then also post at their site, as well as their monthly charts.)

I should clarify that the EW count ideas I'm discussing are either my own, or where I'm referring to a diagonal down idea I'm talking about other EW ideas I've seen out there. Tony Caldaro has an EW big picture count showing we completed a large "a" down, so the diagonal wasn't his idea (so far as I know), and I don't think he's putting out EW ideas for the smaller time frame I am looking at (at least not on his public charts).

Here are some thoughts I've marked, on the sentiment indicators using VIX and the bullish percent on SPX:


Below are some more reasons to beware of a low over the upcoming week and into the December 14-16 time window. (The Bradley model cycle chart was discussed before, look under the label at right side of this page called "Cycles on Bradley Model").