The close of the current 4 hour candle is critical...

Right now we have dropped below the 200MA on the four hour chart. If this candle closes below it, we could likely smash thru the well-tested support at 7500 and break down to ~7100. If we break back above it, chances shift significantly back towards a climb back above 8000. we have held the 800hr MA since February and it has proved key during this bull run. Fingers are crossed that the bulls recover quickly here.

Comment:

We're already seeing the bulls pull the candle up near the four hour 200MA which currently sits at 7777. We're up nearly 50 points since I started typing this post.

Comment:

In the last 15 minutes of the candle, it collapsed below the four hour 200MA. I'm selling my position and buckling up for the ride down to 7100. Will reevaluate when we arrive.