as the market is back to gorging itself again, (but it did lose some weight, right?)
Well it looks like the market is going to fool everyone and actually go up and form the right shoulder around the 1140-1150 area now. At least that what everyone is expecting, so maybe it will actually happen now, who know? That's another way to fool everyone... do as expected, and shock'em!
Maybe they printed up some more money and injected it into the market over the last few days? It came from somewhere, but it still doesn't look like the big boys are buying. So, eventually, the retail traders will run out of steam, and then we will have another leg down.
Not that it will do any good for us bears right now, as there seems to be no doubt that this market isn't going to sell off huge between now and Friday. Maybe a backtest to the 1080 area... if the bears are lucky. But honestly, as long as the volume stays light, I don't see it happening.
So, will next week be the sell off that we have all been looking for? I guess that depends on where we close this week out at. That 1080 area is pretty important to the bulls and bears. A close below it, and I believe we will sell off next week. A close above it, and we will likely go higher next week.
As for tomorrow. I'm clueless? We are so massively overbought right now, that it's not even funny anymore. The market should drop about 20 pounds (points) tomorrow... but again, light volume allows manipulation, and if they want to keep it up... they will.