The pace of change in real retail sales is slowing down as expected:
The stock market has some catching up to do.
I expect the market to be very volatile in the next few days, as volatile as it has been at recent more important tops (January 2010, April 2010).
The action might resemble the last 2 weeks of January this year, although I think this time the break out will be to the downside.
The amplitude of the range was 25 SPX points back then. I noticed that this value is a good approximation of other similar ranges, so 1320 SPX could be a short term buy today or tomorrow for a move to the recent highs.
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