14. I can say this much for bulls, YOU BETTER DEFEND MID AUGUST.
A. There is SOME STRENGTH in today's spike.
B. It doesn't change the 1690-1700 target, even though I there's NO NATURAL REASON why it' can't stop at 1720 (meaning if it stops there, I wouldn't be surprised, I would just wait for the curves to adjust).
C. But anything more probably has praying involved.
D. What DOES CHANGE is the SPIKE UP AFTER THE SPIKE DOWN.
E. So AFTER 8/28 JACKSON HOLE, I COULD SEE 1830 AGAIN.
F. But let's survive 8/20 first.