Remember back to the start of the year and what I've said many times over during my live sessions up to this point.
I believe the S&P has maybe around a 10% rise to start the year. That would be the 4274 number seen above.
We saw the S&P come close, now the question is will the selloff continue and intensify or is this just a pullback on the way to 4274?
We'll know by watching the numbers, and here they are once again:
4049 - the low from the First Three Days of February
4011 - the midpoint for the year so far
3814 - the low for the year
If we see a close below 4049 then expect further selling and then if we see the big number 3814 come into play again then we know the bears are taking control again.
Stay tuned in next week. On deck is CPI on Tuesday morning and PPI on Thursday morning.
Plus don't forget everyone is invited to the Planning Session on Monday morning at 9:15am Eastern.
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