I know I spent yesterday making a case for a possible lower high but I’m not sure as it seems a little too simple in form. Sure, I can squint and justify it but I think bears had their chance to press this morning and didn’t get much out of it aside from a minor new low to yesterday. I think it best allow a bounce up this afternoon and likely early next week to at least 4434 SPX. Yes, in a way this is playing with fire but keep in mind that it is late in August. Many are still on holiday and the prime time for trading will be after the first week in September.
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