Noticed that ISEE Equities Only Index closed at 231, this is a little bit too high. The previous 5 cases when the ISEE Equities Only Index was closed above 230, were marked by blue arrows on the chart below. Considering this is a 10 days up cycle, so the market may have one more push. The bear’s hope is that this is a back test of the broken Bearish Rising Wedge, but I won’t count on it, as I don’t remember so far this year any traditional TA setup worked for bears – the bear’s only hope is extreme extreme extreme conditions and unfortunately such kind of conditions still are a few days away.

ISEEWatch SPXMidTerm