MCO update - dicey but constructive

The last few trading days were a little rougher than I expected but I still expect the markets to work out a positive reversal here. The Climatic Volume Indicator has been in the -25 to -50 area the last four sessions and todays last hour of trading looked like a reversal to me. The SUM Index will probably violate its 13 day moving average tomorrow but this appears like it's a retest from above, a bump and run. Nothing is written in stone but with sentiment so bearish it looks bullish to me.

The SPX for 12/05/06
Click to enlarge