2014.03.10 Sunday Update

The 2 scenarios mentioned previously are still in play. Technically, the Friday jobs report spike could have marked a significant top and the old System would have gone short and futures are lower overnight so far. However, the technicals were not at the extremes we'd like to see, key supports are still holding and another small leg higher would seem to make for cleaner EW...either a complex ABC zigzag or EDT 5th if SPX 1868 is overlapped. If SPX rallies Monday/Tuesday to new highs, the top could still come at any time in the subsequent 2 weeks as in Scenario #1 with a sizable 8%+ drop into mid-April followed by a retest of the high. That's the scenario I am now leaning towards, but we'll know more in the next day or two. Good fortune.