Wednesday the index did open to the 1550 area almost touching the moving average and dropped sharply to the area of 1525 as expected. We shorted the high and put 20 SnP futures points in the bank.
Today should be a slow sideways day with a slight down bias allowing the stochastic to reach overbought by the close Friday. Next week I look for another sharp drop into the 23/24th. We may see a test of the low made on 9-25 by the 23rd.
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