Going to be very interesting market here today. Euro zone is in a mess and nothing will stop it from finding its "TRUE" level. We are trading below S&P 1096 and are at the next support level of 1083 before the open. I have no call on this open as we are at S2 level. Only thing to watch is how much we bounce.
This will be a first open for the S&P below its 200MA which is significant in itself but most importantly is the Germans move to stop shorting I think will be the first gun in a move of the big investors to stay out of the markets leave demand levels low and therefore lower prices.
I do hope we bounce because it would be an excellent chance to short. AAPL and GOOG should get hit hard on the next round of selling as they are inflated. AAPL will definitely see below $200 on the next round of selling and GOOG low $400 or below but we will see.
Marketjedi
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