I was listening to CNBC on XM Radio this morning and they were discussing  $SPX 1015 level and the importance of it, just like Steve and Matt have mentioned over the last few days. 

rp...I sent you a private post.  Can you please check you in box?

thanks for posting.  Interesting artlcle and possible meaning behind why Chinese government has allowed to these defaults.  Also interesting that oil has fell so much since last Friday. 

sorry to hear that you had technical diffculties tonight recording the update.  The nightly updates are addicting, so I certainly am willing to wait.  It is amazing how good you and Steve are with your analyze. 

which ETF do you own? Just curious.  I have ERY. 

I have recently bought Direxion 2.5X mutual funds and I had to sign a notication regarding the risk that is associated with these mutual funds. 

what do you mean by this statement?

Direxion offers 2.5x bull and bear mutual funds for all US major indices.  When I have go long or short, I scale into the position over a few days. 

Direxion has 2.5x bull and bear mutual fund for US major indices.  I have been using my 401k to go long and short.  I like the mutual funds because you avoid daily noise and get the EOD price.  It has worked for me since last year. 

what comments are you refering to?

matt, do you have the latest Investor Sentiment report to include in tonight update or just post it on the blog.  I watch CNBC a little today and I was amazed how eurphorica the reports were today. 

rp...$rut and IWM look like a hanging man candlestick.  what do you think?

thanks for posting this.

ravun...can you please repost your link titled, "The Chinese"; the link is not working.

thanks.  Just wanted to clarify.

but, you are only refering to a 5th wave completion in the 5 minute charts, right, not necessarily completion of correction.  Since we have not reach shelf support of ~ 880 on $SPX.

matt...could you clarify what you mean that wave 5 could be put in tomorrow morning?  Is this based on the 5 minute chart?

matt/dodger...I was looking at $SPX monthly index on a closing basis and it has closed up 3 months in a row.  In the previous bear market rallies from 2001-2003, usually, the 4th month, it closed down on a monthly basis.  Just makes me wonder what the probability would be for it to continue to increase over the month of June.  Even during the down months of last Fall, the market only went down 3 months in a row, not 4.  Just an observation. 

dodger...do you still consider this an orderly pullback? 

definetly nice observation.  Did you see the volume?