If we can cut through 1500 "support" today and close under that, I will be very happy. But we'll see....
I have stated my thesis repeatedly on elitetrader and been called several names in the process. The more names I get called, the more I know I am right. Elitetrader is one big contrarian trade where the crowd always seems to get faded. - Short term price target is 1430 - Long term price target is 1130 - The SPX would never get over the right peak of the 7 year long cup. It did oh so slightly then retreated fast. - The pullback will most likely be 50% of the height of the cup which is about 1130. Mark this post MichaelScott haters!!!