Looking back at the Shooting Star post back on Sep 17th we can see that we are nearing the 50% retrace of the Summer's move and could be ready to attempt a holiday rally anytime soon. Keep your eye on the 62% retrace which is in the 1338 - 1346 area. If that is breached then we are in for some pain but you have to keep in mind that the Bernank's sugar will be absorbed into the system soon. Will we bounce tomorrow? If you are attempting to catch knives, pay attention to your stops so you have enough fingers and capital to participate in the ho-ho rally.
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