The S&P came off overnight as a few of us had expected. I liked...

The S&P came off overnight as a few of us had expected. I liked the way it bounced later in the day - nicely off Jaolsas time line - but overall I would be happier if it took out last week's low. Perhaps come back to about 1365. I think there will be a lot of stops waiting around the 1370 level and it would be good for the market to clean them out. But my feeling at the moment is that we will then gather ourselves up and head higher again. New highs in the S&P by 1st December. OK - now I am going to go and hide as I am sure there will be plenty that will disagree with that idea.