Dow -105
Nas -35
S&P -16 to 1145
Not liking this downward trend we are in. First we broke below 1300 on the S&P at the end of July and have never even thought about getting back up there. We are now stuck in a trading range between 1100 and 1225. If we break below 1100 on the downside, that would certainly cause another round of panic selling where we would switch to full protection mode.
On the upside, we really need to see a move back above 1250 before we would commit new money.
Here is the S&P 500 chart:
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