Adjust thinking to be bullish if you aren't already - buying dips really isn't so bad

Today was another day that looked like it might help the bears but instead went to the bulls. If you read Tony Caldaro's Objective Elliott Wave update (see site list and his feed at right side of the page here), you know that he's now leaning to the idea that we finished a fourth wave and should see a wave 5 finish at some point soon enough. Couple that with Terry Laundry's ideas of his T Theory projections, and you get to the idea that we could see a larger pullback - but by now, "larger pullback" probably just means to the area of 1142/1144. I've made some markings on the SPX hourly chart below that help illustrate this.

You can see some negative divergence on the hourly chart that helps to signal this possibility. The SPX daily chart is also below for reference. It happens often enough that the 26th of the month is a relative low point that fund managers like to buy. If it works out that way, it can be ideal as a buy point - although maybe tomorrow as indicated by the ChartsEdge weekly cycle forecast (posted yesterday)! Whether buying tomorrow or sometime by the end of this month, all swing traders really can say now is - don't worry about missing out on buying the February lows. There is nothing that can be said or done about that now. It's a matter of being positioned to be long going into the higher levels that we have been expecting all along, to occur during the month of May. And if you agree that those levels will be "north of 1200" then you will certainly want to be long (and NOT short) for that trip up.