I have great plans for this market in the fall, though, and in order to realize them, we need to start chopping away at the charts now. So I definitely prefer steady selling through this week and again next week into the full moon and FOMC.
Ooh, one more thing, that I like about 1380.39 as a potential technical top for the entire rally since 2009, is that, of course, it is right at the .786 retrace of the entire 2008-2009 crash debacle. So we've got that going for us ... which is nice.
|Proposed wave 1 channel|
|Larger view of the drop|