I disagree. Look at the chart since the mid-May increases began...

I disagree. Look at the chart since the mid-May increases began -- after every increase in SP there has been solid retracement. This spike is not as big as the one at the start of July, but we have already begun the retracement.

Based only on a rough approximation between retracements from small spikes and the retracement from the massive early July spike, I'd say we might go down to 5.0-5.1.... There's a weak support line at 5.1

However, a better look would show that the next decent support is 4.8 as shown by the 1st September peak which coincides with the 4.8 which is the dead cat bounce from the 1 July spike

These are my observations only, basic chart observations only (a good announcement throws it all out the window) etc etc

I'm out for now but have funds ready for a low 5.x buy in

I'd love to be wrong and if thats the case and it goes higher then kudos to people holding