Tomorrow, Germany probably gets the go-ahead to fund the European debt ponzi a little longer. We gap up a few handles, but since the FOMC is the main event this week, the gains are limited -- not a 30-handle /ES day.
If we're going to drop all the way back to 1395 by Friday, for the 3PDH, then I'd like to propose that the Fed news actually gives us the wave 3 of the move. Wave 1 down would come from a UE report of 400K+ Thursday morning. Thursday could be a 40-handle selloff.
1395 Friday and I'm crazy enough to buy that dip.
|1448 only 15 pts away|
|Decline to 10/3 and 3PDH labels|
|C down targets updated for a 1448 top|