Interesting that the S&P closed almost right on the 55 day...

Interesting that the S&P closed almost right on the 55 day moving average. Laundry suggests a blast off from around this point, and believes this is the most reliable point for a rally. Should be an interesting couple of weeks as their are a lot of divergent opinions at the moment - mind you there always are.

I think we'll scratch around for a couple of days and then rise in the latter part of the week. Interesting that BHP is likely to fall below maximum option pain level of $34 today. Is a pretty reliable indicator, which would also suggest the market might scratch around for a couple of days into thursday