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As of the 3PM refresh, my models are signaling 1-2% downside and 6-7% upside from the 833 line we issued in our Early look.

BUY "Trade" line = 818.11
SELL "Trade" line = 885.67

The SP500 is setting up here to close at a lower low. On the margin, that's bearish. In conjunction with this event, Volatility and Volume are not confirming higher highs vs. those seen during the thralls of October 2008. On the margin, that’s bullish.

Hank “The Market Tank” is done. The CPI report tomorrow will be bullish. Buy’em!
KM