Technically, It appears that the last 4 hour bar broke support that has held since the gap up on 24 June. I calculate the next level of support @ 123.94 which was prior resistance and also the .236 fib retracement from the Dec 18 2015 low of 100.50 to the high of July 6 2016 @ 131.09
Fundamentally, if we have a strong jobs report on Friday (and i am sure we will no matter how many people are out of work) I'm looking to short (put options) with a TGT of 112.31. I might just short Thursday night and look forward to Sec Lew telling everyone the books are not cooked on CNBC @ 0900 EST!!!
Fundamentally, if we have a strong jobs report on Friday (and i am sure we will no matter how many people are out of work) I'm looking to short (put options) with a TGT of 112.31. I might just short Thursday night and look forward to Sec Lew telling everyone the books are not cooked on CNBC @ 0900 EST!!!
