From what I see.. we turned down last thursday. Today was merely a bounce back to the LR lines, and next we will see this market proceeding down, seriously. My targets for SnP are first 953-944, then 884-879, then 842, then 800.
For the RUT I am looking at 547-544, then 498-487.
I suggest shorting every bounce. In fact, I was hoping for a bounce on the SnP to 1077-1082 area which may happen tomorrow, I hope. If so, I suggest nail it!
Monday, July 19, 2010
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