a few times this year i have had these feelings that certain price levels have released a volume of sellers
round numbers on the way down tried to hold like 1300 and 1200 then 1000 but then gave way to lower levels each time
it seems after 5 weeks sideways at 840-1000, the S&P is ready to see if there will be a volume of selling under 840
for now, i bought an emini at 835.50 against the Put spread and Nov 935 call sold at 7.4 looking under 3 on its way to 0
looking for a late day attempt to Turnaround tuesday again from this key close at 834.7 on oct 27
if yes, then another 10% lower yields 750 the area where the 2002 rally and a decent target
if no, then lets assume another slingshot higher on "good news?" with 1000 and 1200 round numbers targets for the 1st quarter rally once Obama gets his hands on the PPT for his good comparisons to FDR
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