AT some point we correct 5 to 7% this month, that is a given for me. I think if we can run back up above 1570 this week or next, i go short. If we get a good buy on the daily (not today) then I will buy for the short term trade.
Normally I would be super bearish right now, but the fed is propping up the market, maybe for another year, but more likely eventually europe will become such a big problem even the fed can not keep prices propped up.
For now, am bearish on tomorrow, 1540 is possible target, but if 1549 holds, then we could rally back to 1570 friday.
