So the August spoof began....Stops took S&P from 1419 to 1424, and then finally, we saw some wake up from traders laying onthe beach, and they all sold. We have had a reversal day, all timeframe charts have turned bearish, and I do think from here weshould now trade lower...

I have thought for some while the market is topping, but it spoofed yesterday, caught people out, and should now come lowerto 1387 over the next few weeks, if not sooner..and to be fair I actually do think we will come lower than that...anyway..that isin the future...so we look to today...Lots of resistance in the 1414/15 area, and we would look to sell a bounce if seen.

1407/06 is a small support, and if we break through here we should see the market start to really move on the downside with1395 then the immediate target...Cover shorts, wait for a bounce, re-sell once more...If below 1395 then 1387 is your targetedarea.

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