SPX's Wave A of Wave 5 Down Appears to Have Bottomed Today

SPX's (S & P 500, http://bit.ly/i0nsT) Wave A of Wave 5 Down, since 6-3-10's 1105.67 cycle high, Appears to Have Bottomed Today (Intermediate Term Downcycle since 4-26-10's 1219.80 cycle high, down up down up down pattern), see http://bit.ly/i0nsT. Note the bullish white candle with a small inverse spike today 6-8-10.

Today's above average SPX volume, at about 5.100 billion shares vs the 60 day EMA at about 4.781 billion shares, indicates that today 6-8-10's cycle low probably wasn't an Intermediate Term Cycle Low, because, volume didn't spike dramatically today.