With the market seeing a new retrace low of sp'1918 - with VIX 32.50, the bull maniacs in the mainstream are no doubt somewhat rattled. From a pure cyclical perspective though, the market has rather easy upside to the 1930/40s by the close.
Well, at least it ain't boring. After a rather subdued Friday and Monday, we're back to the wild swings... having broken quite a way below what I thought was a bold target of sp'1945/30.
Broadly, I'm still on the 'rally into mid Sept' train.
*I remain long-AAPL, but its a small size position, and I'll sleep easy.. regardless of the close. Seeking an exit in the 115s, which frankly still looks very probable.