In keeping with the larger short bias portrayed in the Week-end review (23-27 July, 2012), I would initiate short positions, should the market reach the following levels:
- 1384.75; and
- 1386.5.
The shorts would be invalidated upon the Dow Jones Industrial Average ($DJI) breaching and staying above 13128.64 (Monday top), during cash trading hours.
On the flip side, I would split a long entry between 1363-1364, for a 3-5pts target.
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