http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p91663446137&a=266398464

alphbetagammizado is a secret code which points to the album of the same name by the brazilian musician Carlinhos Brown — a tour de force which will set your blood boiling and make you forget rock and roll –except for the Beatles.  But enough of cultural notes — today the market displayed what technicians call a key reversal day.  As shown it is a day where there is a lower low and a higher close than the previous day.  This reinforces our analysis yesterday that the downwave had largely exhausted itself.  (No guarantees.)

Once again we point out the alpha-beta-gamma (and zeta) pattern.  This is analgous to the A-B-C pattern but it gives a reentry signal, or add on signal when  prices power across the angled trend line.  Buying before this is chancy and speculative.

A discussion of alpha-beta-gamma waves can be found here.