part 2

3. The slow motion decline is in full progress for the SPX as we are testing the 200 day MA a second time around 1103 but we rather retest the lows of Mai 7th soon as well. The Venus passage of the 'Grand Cross' was a negative event the last 3 days as the EURO finds a temp bottom. We will have a decoupling of those markets soon and Gold topped out with the special Heliocentric Mercury effect heading for the 1170/80 support.
Rydex is still at 1.17 giving plenty of downside scope, with Investor Intel. coming down to neutral territory.

excerpt

Date Published	Percent Bullish	Percent Bearish
05/19	43.8	24.7
05/12	47.2	24.7
05/05	56	18.7
04/28	54	18
04/21	53.3	17.4
04/14	51.1	18.9
04/06	48.9	18.9
03/31	48.3	19.1
03/24	48.9	20.5
03/17	46.1	21.3
03/10	44.9	23.6
03/03	42.1	22.7
02/24	41.1	23.3
02/17	35.6	27.8
02/10	34.1	26.1
02/03	38.9	22.2
01/27	40	23.3
01/20	52.2	18.9
01/13	53.4	15.9
01/06	48.3	16.9