July 24 S&P 500 hits bottom target

Here we are running back on our wonderful rally. We have a 34 point range today. Needless to say it was a very heavy trend.

Selllers were committed most of the afternoon. Dependant on the gap in the morning lets see how we can play it. if we gap down and shoot through 1240 then to the 20's we go.

I don't see where the support is going to come in as hedgies have loosed their positions in the financials again. Remember our memorandum from to days ago no shorting the banks unless you have an agreement borrowing those stocks.

Shall be exciting because it will be setting the pace for the following week.