Trader Update:
Hedged *1378
...the SPX 500 advance stalled oerbought *1220 ahead of the August 31 Congestion High *1230. The consquent impulsive sell off violated short term *1194 support with an intraday Low *1188 so far. Risks are high for more downside to affirm the *1183/*1178 support range ahead of the FOMC outcome
...any violation of the *1180 support will strenghten the view that a bear strike is underway that will attempt to take out the September 6 Low *1136 with high risk to stretch lower to test the August 27 2010 High *1066
Kind Regards
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