I feel that shorting the rallies is still the best play for the moment, with the 7240 area initially resistance to watch today. There is still a chance that we rise to the out of hours Sunday high at 7328 but it was only the larger divi yesterday that fuelled the rise, so a bit of a big ask for the bulls. The 2 hour chart had resistance at 7275 and if you ignored the divi overshoot we have dropped off that level.
I am looking for a drop down to 7150, especially if the 7179 support breaks today, and then 7100 below that.
I am looking for a drop down to 7150, especially if the 7179 support breaks today, and then 7100 below that.