ALL IS KNOWN

At this point betting on a bounce off the 200 MA was solid strategy for a trade. More importantly have we put in an IMPORTANT bottom? Is the correction over?

At this point the jury is out, markets work off oversold conditions and overbought all the time and continue the trends. What we have seen like yesterday is not convicning with 60% upside volume, not exactly a declaration of conviction.

Upside targets may be much higher, but immediately ahead is 1294 region. WED is FED rate announcement.

Like the bailouts it isn't likely the US doesn't raise DEBT CEILING or Greece doesn't get some kind of additional funding,bailout.

D