Thinking Going Down is Not the Issue

Nice, Thank you Shadow...adding to the discussion:  Thinking whether the next swing low will be above or below the 1158.66 print is the issue.  3 spots I see to potentially make the swing low are SPX 1183+/-, 1149- and 1095+/-.  In this particular case, making a lower than 1158.66 would likely lead to a more bullish outcome longer term (first half of 2012-ish).  However, action at 1183 +/- should yield necessary clues.

In my view, it is too difficult to understand a higher high than 1269 short term so I have assumed it will not happen.  Now that a little more of the picture is developed, I'm better suited to hang in there short for now short term.

Current stop 1252.25, may re-short any silly rip that is still below 1269 SPX if stopped.

An ES view.

In a simple effort to judge myself at sometime in the future, I believe now that I would want to be long in the 1140's, but a whole lot of time and different factors will likely arise also.

Tuesday Edit:  This view got smoked by a 25 point gap up that held.