I am starting to believe that the market could come all the way back to its open this morning, which would be a very sizable move.
The arms index is showing some real underlying strength sitting solidly in the buying area with the market sharply lower.
Although I have yet to commit myself to this possibility, it has some real merit.
If they run this market down to the lows again and we hold or stabilize just under the lows I will look to go long.
With all that being said, I still look to go short at 1499.25 for the move back to the lows.
I sum all of this up for the simple reason that if it plays out as I think I will not have time to update the blog.
Keep an eye out for this scenario, it offers some great intra-day profit potential.
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