based upon recent trading action, the S&P is in a midst of a short-term overbought correction, which represents the digestion in the aftermath of last week’s massive rally. Although seemingly vulnerable to further short-term weakness, the overall technical backdrop remains positive. So, as long as the S&P holds above 1100, the ongoing correction is just another blip in the multi-week rally
從近期走勢來看，標普處於一輪短期超買回調之中，以消化上周的強勁攻勢。盡管短期內可能進一步回調，市場總體技術面依然看漲。因此，只要標普堅守在1100點上方，回調便只是對數周來上漲行情的一個干擾。
based upon recent trading actions, it’s possible that the market had finally hit a short-term capitulation point and over the next few days there is a potential that the S&P 500 index will reversal higher.
the up-leg off September 2nd low of 991 on the S&P 500 index appears to be overextended and a short-term correction is near. Although seemingly vulnerable to a downside correction, near-term trading action will be influenced by this Friday’s quadruple witching expiration, so the correction might get a hold until next week.
