The subject of above says it all. I will spend some of the upcoming weekend preparing for either scenario, including key levels which will clearly identify which outcome is most likely. If its a fake-out, we are looking at a significant decline into and maybe lasting well past Thanksgiving weekend. If the latter, a handful of stocks will lead the next leg up and we will be nibbling on calls as soon as early next week. For now, for the market to remain bullish, today's lows across the board in all indices should not be violated and if any of them are, assume today's CPI gap was the shorting opportunity of the year.
