A week ago, all the talking heads were sure that the market was going to 1500; now they are sure that the market is going to go to new highs after this correction…Well, the possible supports are at 1962-60; 1933-30 and 1886-84. The 62-60 level is the 23.6% and if it bounces from there, it may try to push back and retest the 1999-2001 level….The same could be true for the 38.2% retracement…if it breaks through those two, then it will not be a correction, but possibly a continuation of the downtrend….
I wish I had a crystal ball!