The support evaporated like quicksand and no one wants to buy the dip. They don't make it easy to short this market. It goes down in one big swoop. I don't think the selling will last past the FOMC but it is aggressive selling.
1000 seems very ambitious, if we didn't break through 1105 on ES, I would agree with those low targets. But the rally went past 1105 which means the selling force is not that strong. Maybe things change by August, but I doubt it.
Looks like we have a downleg. The SPX & DAX have lower lows & lower highs.
ReplyDeletehow about 1000 on spx sound by august
ReplyDelete1000 seems very ambitious, if we didn't break through 1105 on ES, I would agree with those low targets. But the rally went past 1105 which means the selling force is not that strong. Maybe things change by August, but I doubt it.
ReplyDelete