Indications of a reversal?

Interesting times! Hearing a lot of bearish tone (obituary of the stock markets etc., esp from the EWT folks). As I pointed out earlier, SPX level of 1040 is critical and we dipped below it this week. The bulls must hold or push higher or else there is no support all the way down, they did so atleast today. Today we bounced off the lows and formed a bullish wedge pattern on the intraday bars (chart below).



Another interesting theme today was the plunge in gold prices. GLD etf fell $4.65 (chart below) and the 20yr treasury etf dipped lower above the high mark of $100. Seems like a few positives indications, along with the after market S&P futures are pointing higher. But, tomorrow a.m. is employment data and odds are that it would send us south of here.