Dec 28 TA

SPX ended the week positive as discussed in the Feb 2016 comparison, and the trading range was more reasonable. However, we’re still sitting under the 200 day rail at 2540 area, and many expecting a retest of the lows to make another bottom. The TA charts are still bearish.

However, Macro continues to improve, and the selloff was so extreme, that I would not rule out a V-shaped move from 2350. A break of 2400 would invalidate this.