5.17.2012

More downs ahead and a question is timing and degree of a bounce

SPX
I expect more downs ahead when my target 1312 is still to meet. 
As I don't see any meaningful bounce during last 11 bearish days, I suspect it is around.
Combining these two things I decide not to hold shorts overnight until I could short from near the top of a meaningful bounce.
I present some trading cases in the chart:

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