we are on the edge again 870-880, if we confirm lower at today's close, expect 700s, if we confirm and hold above 870-880 by next week beginning of nov, then a reversal to the upside is very likely. Personally i wish we would hit 700s first this week, it gives that much more confidence a bottom is near. I am not trading much lately, holding cash and watching. I think when the rally do come, it will be the mother of all rallies lasting to the end of the year and one definitly dont want to miss. also note the key relationship between dollar, oil and market. 1) when oil was at 140, it's inverse: oil goes up market goes down and vice versa, almost guareenteed. 2) now oil is at 50s, it's flipped. oil goes up, market goes up and vice versa. 3) oil as we know is traded in usd and strongly tied to the dollar movement. Looking at uup gaps, the dollar is almost in a bubble and have to revert back to the means in the near future. somethings to think about...