Market TAO Wed 12-0209

Rectangle Top still in play...Day 15

Overnight ES futures remained in a 1110 to 1105 range. The Euro/USD is trading in a narrow range as well but looks to be turning to the down side .

I expect Spx will put in a Doji day today with another test of the yesterday high and a 50% retracement of of yesterday range .

Keep an eye on the XLF it held back all day when all other sectors where (+) 1 to 2 % .... MM maybe setting up for a catapult type cannonball push to the up side .

We are seeing a rare but possible Triple Top if this 1112.50 SPX fails ..so it can go either way.

We can also plan for a Gap fill at SPY 110.10 .......Then a Bounce up from there.....

My Spy plan today is to Sell up to the high of yesterday and exit at or below the The Gap fill....

Be Nimble today...