With short interest continuing to make new records, sub-prime & a variety of concerning issues have married themselves to investor psychology at this moment. The institutional traders seem to be guiding the market higher, but if we start breaking down here, all bets are off!
As you can see, we have broken a key technical support @ 1540, and are threatening to break another. My guess - the market opens Monday, July 23 looking for some guidance/leadership. Absent any, the markets head lower!
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