Sep 20th is a major cycle low date with 1170 being the target. 1170 is roughly the 50% retracement level between the 2002 low and last Oct's high. So, expect a big bounce to start today. I see the futures hitting 1172 this morning and I expect the cash market to hit that area today. That should be a very good thing to clean this mess up because what we are seeing has been expected for some time.
The smart money has always expected both a retest of the July lows and this 50% retracement level to be hit eventually. So all the doom talk is just bogus. Now that we're there, expect the big money long term guys to start stepping up.
This should mark a major low in the market somewhere around here.
News 
Market Data 
Discover 
AI
