However, if this ain't the double-bottom (on the 5-minute) as you and I would like to believe, then all bets are off.
Just to reiterate the earlier comment about low 70-ish as the lower channel, a measured move of the recent 25 point plunge applied to 895 will also give us a target near the low 70s.
I agree, getting short again 92-93 or anywhere under 95-96 should be a good play today if you are not already.
Just bought back in the market at 890.25--full position. My stop is 744.75 which represents 1% of my TNW. DMartin
Yes very import level. We should be able to tell if this level holds by Monday afternoon at latest. I'm little bullish atm though.
If lower level has to be printed, they must do it before weekend. Media reaction is always taken into account.