Yesterday I updated my post to say that everything was still looking good for building a long from $9,000 - $9,200. If you followed that advice then your bags are likely already packed.
Today I am really wanting to see us support above $9,000. That price provided significant resistance on the rebound and if we fall below for a significant amount of time it wouldn’t be good.
Setting a stop loss from $8,750 - $8,850 makes a lot of sense and also provides a great risk:reward ratio.
I am leaving town this morning for a concert and golf trip. I will do my best to make an update while I am out of town but may not be able to get to it.