well well well


The S and P 500 Futures, 1 year, Daily Chart

Did the US market decide to drop down into another trading range? A tiny sliver of support can be found in the green trend line from June 21, 2013. This should hold up over night. I predict we hold up here for a short period and try to reverse. We’ve corrected about 6% from the high. I’ll tell anyone who asks that we’re going to the 240 day simple moving average at 1681 or so. This could happen real quick. I don’t know why we should bother with the obvious intermediate steps, except to draw in a few more suckers to squash on the way back to a choice buy point.


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