Equity Market Comment - 08/30/2007

I continue to look for the market to move lower in the process of a re-test of the lows.

There does remain upside potential to 1484-1486 before the decline gathers steam.
If the S&P 500 gets to these levels, it will be a low risk shorting opportunity.

The Downside target of 1414 to 1412 has come up through numerous calculations so there is some confluence amongst targets.