No chance of a meaningful recovery before the election. The fed...

No chance of a meaningful recovery before the election. The fed have their orders - don't fight the fed. It's just a question of whether they will let support at 1310 hold or take it down further. Still two months of sideways / downwards action. Expect Yellen to flag a series of rate increases - which if they come will be the catalyst for a break to the upside as the market craps itself.