Here's a further annotated update; my take is that short-term, SDS has a bit more downside work to do before busting out of that lower channel. My short-term target is 54 (corresponds to about 2% upside on SPX or 1484).
Longer-term, unless it falls out of the rising channel, SDS should retest 58's and head to the high 60's (hang in there, bearz). Just NOT tomorrow
(I wont be watching the tape or posting Friday).
http://stockcharts.c...4572&r=4874.png
Edited by beta, 09 August 2007 - 09:17 PM.