Could be, but I doubt it (I am at 16% cash reflecting that doubt). Yes, we finished mildly up, but not enough and not with enough volume nor gusto to justify a counter trend Monday (often after big expiry moves the next Monday is counter, this time, I doubt much will happen in that respect). The market was given ample excuses to break 1880 decisively this week, and it held stubbornly, only another major terrorist attack over the weekend could possibly bring the scenario you paint, and even then it would not hold for long (the breach). I don't expect a huge move either (see the next three four weeks expectations as "plotted" in #msg-1782594).
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