Intra-day: July 11, 2011

ORIGINAL POST:  8:35AM PDT

Watching the bearish Bat Pattern unfold, with Fib targets based on the DA measurement:

.618   -- 1295
1.272 -- 1231
1.618 -- 1197

Bearish Bat Pattern

And, for those who have been following my 2011 = 2007 posts, today is putting in a bid as a candidate for December 11, 2007.  Here's how that day unfolded on an hourly basis:

Despite SPX losing about 40 points that day, it wasn't straight down.  For a read on the market's vibe before, during and after the fall, check out yesterday's post She's Come Undone.

Very instructive to see what reactions were like back then, particularly the disbelief.