Still too early for bears; looking for a counter-trend bounce on Dow above 12k-12200 levels and 1270-1290 levels on SnP before the next leg down; a break-down of 1230 on SnP on closing basis will be the first sign of weakness and 1190 will be the deal sealer for bears. Likewise, a break-down of 11800 on closing basis on Dow will be the first signal and a breach of 11500 will be the deal sealer for bears.
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