Down 100 points, up 100 points - pretty soon you can be talking about real money. In this market, however, the real money is being lost by market participants unable to grasp the larger direction who are getting stopped out at every centrally planned levitation point or fear-laden drop. So, last weeks lows, from our perspective should have been near the 2040 area - possibly nearer to 2010 - they were short and put in so far a higher low. However, since at mcm our analysis does not really get decisions based on support and resistance or wave counts but rather by implications of eMotions and definable probabilities, it appears that we are now on the reversion trip back into chopsville. It is still possible to get an intermediate short-term drop to test lower levels, but the energy on the downside has been dissipated. Though for the near-term, market movements may be constrained within out 120 point chop zone, probabilities are favoring an early September spike that will most likely not last long.