Last Monday Berger was short the index last week and the profit target for that trade was hit pretty quickly early in the week (see the details of that trade here).

At the end of the week, the broader market saw a strong bullish reversal after some initial weakness following the worse than expected September nonfarm payrolls, he says.

Berger is looking to buy the index if there is a pullback. He will buy at USD 103 or lower with a stop at USD 101 and his target for the trade is USD 106.30