After next Wednesday, I have additional weakness into the 20/24th or so, and then another short term rally into the 31st. I think, however, that this later rally might not get us to this week highs (around 2650), originally I had 2850 peak for this period (to next week) high and possibly 3050, for the month, but that was before we broke to 2250.
Take into account that if 2250 does not hold next week (I have that as a very low probability, but use stop losses in case it does happen), we may start the next leg down here and now, we should still have the last week of the month a little stronger, into FOMC, but that, IMHO, will be the last chance to get out before a major decline starts. All, of course, IMTO.
Zeev |
