Going to get a CT scan asap to see if 'Tanke has pulled a Jedi mind trick on me trying to make me see bullish scenarios. Shark sightings being reported, perhaps downgraded prematurely? [Edit: It was a mind trick :) ]
Out of the eleventy-three scenarios, these stand out the most to me. I've tried to take into consideration time, space,tempo, currency, intervention, shark attacks and CRE pump-post-bailout-guarantee...I then narrowed it down to the ones that made the least sense (bullish). What, you're still applying logic to your analysis? Absent the equation is fundamental considerations, or the lines would all be pointed south. It's never cut-and-dry. Being tomorrow is the end of quarter it will be interesting to see what news flow comes in the few days that will probably set the mood for the market.
One other high probability scenario (not pictured) is chop-central to where we meander between 850'ish to 940'ish in a wedge pattern (similar to white line, but upper boundary contained by descending trendline, resolving around 900 with a 70'ish point move out of the wedge in either direction). Basically a sideways market until the economic data out in August ultimately drives us to the destination. This is going to piss off a lot of people I see setting up for cliff dive down to 550, or a re-test straight away. I'm not saying the market can't or won't go there straight-away but I have a hunch this market will be bought by those favoring the "earnings-before-depreciation-interest-taxation-amortization-credit-writedown-fasb-balance-sheet-magic-after-windfalls-bailouts-month-skipping-backdating-if-u-wish" valuation model. 850 is going to be a tough nut to crack (absent a crisis). Too many boneheads. It will eventually give way and we will go back towards to "lows" (and lower)...just not in the timeframe some have psyched themself up for. However, last I checked the market didn't call me up before the bell and ask what I thought.
Eclipsing 943 would be the squeeze needed for what has to be a massive unwind from the pump monkeys. More than likely they'll upgrade price targets and sell you their shares. I call that doing the Heisman, as they shove you their shares and GTFO of Dodge.
