jgunthers ethiopian slave traders friday, page-17

may 18th was a perfect measured move down for the double top on the SPX. There are a few possibilities from here. We could rally back to the 50 day ema which would also be a retest of the breakdown level and then head down further....but I have learnt that the market LOVES to infuriate and frustrate. Because there are so many bears around now it is just as likely to rally 30 days into the greek elections to form a third top before we see a serious crash. I agree that being a "2" year October is most likely to be a serious long term low in the US.