The SPX is due to go down into Wednesday. I believe the 2144/45 area beckons. The June 27 low was exactly 110 TD's from the Jan 19 low. Adding 110 TD's to June 27th gives us Nov 30, the 5 month low. This should have been the low for November.

The cycles are either off or we have a huge down week ahead of us. Normally, off a wedge, the first support is the 1991 area. We never got that low.

The recent high is not confirmed by OBV (on-balance volume), neither is the running A/D line.It looks like a 64 TD top (+2) right here and perhaps the beginning of something bigger.

I had 2213 SPX marked as the expected top for around the 16 TD top due mid-month and we hit that at the end of the day Friday. It has built a nasty wedge on the hourly chart.

If GDX falls on Monday, it would be a sign to exit all longs. If we rally, look for higher prices into Wednesday. The big play this week will likely be the stock market.

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