Stock market tries to deceive the maximum swing traders while daytraders "eat what they kill"

As one trader from the CME trading area (MrTopStep) tweeted today, "we eat what we kill"! Maybe there are different interpretations but I'm thinking this market is throwing out some moves that many (not all) analysts are finding challenging to assess. I know Andre Gratian has been doing a neat job for his subscribers and so don't want to step in his way. I do think my readers can benefit from all the analysts I feature and refer to - hopefully from my posts and tweets too. That said, below are charts of the SPX and the QQQQ. If it's a matter of counting waves, I'm guessing we might be seeing a wave "c" or 2 down starting IF today topped a wave "b" or 1. Or whatever - I'll defer to Tony Caldaro, who's doing his excellent job laying out the alternate possibilities and looking at the market's technical strength.

Which does continue to show up! The McClellan Oscillator which I've placed as an indicator in both the SPX chart (NYMO) and the QQQQ chart (NAMO) shows that, even with whatever pullback we get from now until, oh, perhaps March 10?? - the technical strength can indeed be there to propel the market higher into May. Just as we've laid out in all our posts projecting for the year 2010, including the work by Terry Laundry with his T Theory, Ray Merriman, and Mike Burk who discussed the Presidential Cycle.

As for Fibonacci retrace levels, the SPX has now hit the .765 which I don't really think is a Fib, so we'll see if it seeks out the .786 which is a Fib number and sits at 1127. But if the SPX goes yet higher tomorrow, then I think it's outside the Bradley time window. The Bradley turn date of March 1 has a time window which I believe is plus or minus 1 or 2 trading days. (Anyone correct me if it's different.). Makes it a little more difficult to "see" the turn in real time, especially the turn direction (which is really what we care about for practical purposes.)

So we'll see where this goes, and I'm sure there are many who will be wanting to buy a good low - we've just gotta recognize where and when it happens! Probably easier said than done. But it'll be be a great exercise, and ultimately rewarding as we get through and past March.