August 15th Big Cake Evening Thoughts:

The big cake still looks at the range of 119700-120800. It must rebound and break through this range for the market to have a chance for a second high. The target resistance above is looking at 122000-124000.

If the rebound does not break the pressure of the range 119700-120800, the market will still look for a correction, with target support below at 117000-115800. Long positions can be considered near the second and third support levels.