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Be Ready This Week:
The S&P 500 hit our target of 1991 on the 24th and prices have sold off since then hitting the low of 1974.37. In our prior commentary we had called for quite some time the importance of 1990 and that was one of our major targets and that was initially discussed on June 29, 2014. We have called both price and time days in advance and prices have declined so traders need to be mindful of a move potential toward the 1945 level and potentially lower toward the 1900. We have been seeing substantial divergence in the long-term as well as short-term price action and we do believe this overall market is extremely overvalued.
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