Hilbert Sine Wave "End of Trend" (Emini 81 min)
We finally got some decent intra-day volatility – and not surprisingly on an FOMC announcement day. The Hilbert Sine Wave signaled a nice "Pull Back" (PB) to "End of Trend" (END) combination, shown on the chart above.
This does not necessarily mean that the Bull market is over – it just means that we'll probably go into a period of cyclical activity or consolidation before a new trend develops.
Climax Volume (Emini 135 min)
We ended the day with a Climax Volume Down Bar. The last time we saw volume like this, the Professionals stepped in, the 990 level held and the rally continued.
The question I have is, have we spent enough time above 1,050 for the Professionals to distribute their Long positions to the Amateurs? We've not seen a blow off move and clear panic buying by Amateurs. But we've tested 1,070 a number of times and not held above it.
Volume-Based Trailing Stop (Emini daily)
The volume-based trailing stop has moved up to the 1,052 level. My best guess is that we'll play with this level and see some cyclical consolidation.
Hilbert Sine Wave Customer Follow-Up Video
Just to let Better Sine Wave customers know that I'll be posting a follow-up video on today's "End of Trend" warning signal. You'll receive an email with link to the video shortly.