Aug 9 Market Recap - Markets of a thousand cuts

The markets been trading a bit higher lately since almost Aug 1,2010. Was seeing some weakness as short interest increased as we touched the 50% retracement. The thousand or four :) are marked on the chart below. Look at the weakness last week, the support line has held things together so far and we have crossed the 50% line convincingly this time. How much higher, we've talked about it earlier, 1140 remains the high target. As of the moment I'd be looking to short there abouts.