The market bought up the downtrend risk as if the Paris attack never happened with a short squeeze on Monday which turned into a real strong uptrend and now it is back to my "rally until the FED speaks in December" plan, which I posted earlier. I hate to flip flop so much, but the market is in such a key pivotal area here between breaking out to a new yearly high or creating a super bearish double top
, which would be the start of a recession in 2016.
If we do get a new high I see it happen around the monthly R2 pivot
price slightly above 2040 points.
Entry: 2050 (when it dips lower next week)
Stop loss: 2023