We have been in a churn for sometime now trading between 820 – 920. I realize something big could happen soon to resolve this in either direction. The market will break this chop and I mean it WILL break this chop. We know it won’t stay in a relatively tight range forever, but which way will we break. My personal opinion is that we might head lower. 820 is the number I am watching because if we break below that I think we could be headed for the November lows of 750. Watch as we churn and be aware that the news from our beloved Government is what will break us one way or the other.
