It seems my guess with 950 SPX was the deal today. Anyway, a thought which adds to my overall conclusion - on the left hand, the SPX daily, I drew lined for a triangle pattern, which is a classic pattern at this stage. We might trade up to 1000 even next week before challenging the downside again. We will, as a classic pattern, break to the downside to make the final leg down and the magnitude the triangle gives is 150 points, which would create a target of 750 basically since we have the 2002 low at 770 a retest of the low area of 770/800 looks very likely. Especially with this triangle, a break will confirm the downside extreme pattern. We will have to follow closely the next weeks price action. Next week the weekly crossover of the 50 week MA through the 200 week MA should materialize as well. More analysis on the weekend. Oil made a low (only temporarily though) and oil stocks might outperform for a few days. Have a good weekend
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