We did pass 2763 yet you stayed short. I think you are missing an opportunity to get out with a small gain before the rally comes... The market just wanted to properly close the 2740 gap. There is still 1+ point left, but that is really just a crack not a gap. Come on Joe, you can do it!!!
Overall the market remains in an uptrend and I will get long at an appropriate time. More resolution of this pullback is necessary for me.
I did not see the price action that I needed to see at the 2763 level. --However that level remains very significant as once we pulled back from the initial thrust, we hit that area again and it rejected.
2747 is the Monthly Chart Cycle High - The rest of the above as of 2874 is the Overbought Value State - By my watchful count. - Its falling like A Knife - Ever heard on that Market Talk - If not why not ? I`ve Priced this Derivative at 2450 to the Lowside. But only my opinon but not at a Guess but A true count of the pips within the instrument. Lets See.
Today's pullback low of 45.75 is still within the 38% tolerance allowed for momentum to stay intact. The deeper we dip the harder it is to challenge the high. Holding this level increases the probability for an upward burst to retest the highs. Buying time for a news driver.