That was fast ...

Well, we are coming up to 1300SPX on a break of 1330SPX. (http://www.traders-t...ndpost&p=586345) Given the severity of this decline after the break, we are almost assured to see another low. As long as there is no agreement in Washington DC, the market should continue to weaken as the masses realize there is no solution to the debt problem. The risk can only grow until there is an agreement. So I would expect the market to decline until either default is priced in, or until we we get an agreement bounce. It would be expected to see a bounce at 1300SPX, but the risk is just too high here. This is not the type of situation you want to scale into Play safely...

Edited by orange, 27 July 2011 - 02:25 PM.

I wouldn't buy a dip here with your money, my friend.