I tend to agree with you, BOS, however, it's an interesting situation right now; basically history supports another deeper drop similar to what NN is stating to SPY 266-268 by next week, and then a STRONG rally to SPY 290 after the Midterm election where the Dems are most likely take control of the House. I was listening to a Blackrock vice-Chairman last night who basically stated the exact same thing.
Personally, I cannot see the market pulling back now since the Bulls have fought hard to re-capture SPX's SMA200 and the 2800 level.
JMHO
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