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tdp2664 InvestorPlace Serge Berger is the head trader and investment strategist for The Steady Trader . Sign up for his free weekly newsletter . Yesterday, I stated that I could envision this market range-bound (S&P500 1,175 – 1,225 or so) for the remainder of August. Clearly, with yesterday's large down day that range can be chucked out the window. So, yes, that was the wrong call. That is, however, exactly why we must reevaluate this market each and every day, as things happen quickly with this volatility. The question now becomes how soon will we retest or dip below last week's lows near the 1,100 mark on the S&P 500 before heading higher again. There is a chance that yesterday's lows near 1,130 may have counted as a higher low, but given that the index closed near the lows yesterday, we should see at least somewhat lower levels.
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