First Leg Down

As projected, SPX was down approximately 15 today.  One thing of note...I actually jumped on this down move too early.  My system had me going in after close of trading on Tuesday...in the vicinity of 1110.  I decided to jump in early last Friday (close) at 1093 as I anticipated a BEARISH signal in my MIDS system.  To discipline yourself to a system that you know will generate signicant profits...while setting aside your emotional instincts...is one of the most difficult things every investor has to deal with.  In any event, I see the next day or two potentially being quiet, with a possible retest of 1101, which is the high of the last reaction (see 60 min chart) as well as the midpoint of this current reaction from 1113 to 1088.

I strongly believe the 1088 level will be broken on the down side by Tuesday at the latest.

MIDS:                              BEARISH
Move Start:                   11/13
Move Price:                   1093.50