Do we feel the climactic sell-off came.. no. We strongly reaffirm our previous Index targets: Nasdaq 2,150 and S&P 1,190. Nothing has changed from our weekend psychology. In fact, it has been reinforced, so please exhibit caution going in to the July 3rd Unemployment report as we feel it will not surprise on the upside. In addition, crude oil will continue to haunt the market, especially with the three day hurricane weekend potential, to say nothing of the geo-political tensions building within and between Israeli and Iran, and within Nigeria and Syria. We believe longs will lose and shorts will win, but we wish good trading to all.
The Psychology of the Call team is squarely behind your best interests, rest assured.