On the bullish side, we have a W pattern that has formed and triggered. We also have your garden variety indicators like MACD, etc. flashing a buy signal on a daily chart. What’s very possible is a move to 1420ish as we suggested yesterday. This correlates to 840ish on the RUT. On the bearish front, we are very near a complete wave count on an hourly chart. We also have the monthly chart and how that’s setting up to suck in as many bulls as possible. Likewise, there is no evidence of acceleration despite the rising prices. We have to remember we’re technically still in a 4th wave, which historically have inflicted maximum pain and confusion on market participants. Only after we see 1422 exceeded by a good 10 points or so will anyone, with any degree of confidence, state that 4 is done. So we still have questions, even with the rising prices.