Based on shallow retrace, breadth, momentum and the credit market we are not at the top yet. SPX should hit 1905 before we see any protracted downward move. There should most likely be one more shallow drop before we hit 1905. SPX of 1730 - 1750 should be the range bound low.
Looking for next week to hit the highs before we retrace. SPX around 1812 - 1815 is my guess. S/B by Monday or Tuesday. I might be foolish enough to continue my bear bet next week if target is hit. I will only stay till it hits my target range. If it does go that far down I reverse immediately.
From here to the end of the year we should see some more volatility and faster moves both up and down.
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