09.09.2011 -- Quick update

Definitely made a bad call for today. I did expect a fairly quiet day and that was obviously wrong.

I do want to quickly point though that my view has not changed ... yet.

SPX Daily;

Notice that we bounced off of and did not take out the bottom of the corrective channel.

If we take out the bottom of that channel on a close, then there's a consideration to be short again.

Right now though, this chart looks to me like we are going to burn anyone who went short into the close today.

GL

CJ