Looks like we are going to open right around yesterday's close. We traded up to 1115.75 in overnight trading and sold off a bit early this morning. I'm looking for a move down to 1104 and possibly to 1100. I will look to buy into the market down to 1098 (A confirmed move below 1098 will signal weakness and I will not look to get long if that happens). If the long entry works, I will be looking for a move back up to 1115 to 1118 and possibly new highs.
One important thing to note is that we we have already seen a 10% move above the lows from early July. That makes the previous highs at 1118.75 a potential short term high.
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