Equity Comment

Today could not have planned out any better with the initial strength followed by a slight meltdown.

The market is starting to show early signs of attempting to put a bottom in, but it is very early in this process and lower prices are still in the cards. With this in mind, the hedge we put into place in June should still be in place.

The Low Target Area remains the 1387-1375 level on the S&P 500.