20% Hedged: *1271
...the SPX 500 extended losses from the 27 October High *1298 currently testing the 26 October 2011 Low *1221 bouncing off an intraday Low *1216 - so far into the bounce, up-ticks remain unconvincing
...as a result, risk of additional near term weakness could target the 28 September 2011 High *1187 - potential to reach lower towards the October 9 2011 *1162 support Low - setting a near term floor
Kind Regards
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