Near Term Trend: Negative
Tuesday’s Close: 367’6 (+ 6 cents)
UPDATE: Uncanny how the high in July 2016 and the high in February 2017 is 396’0 (perfect double top).
As we stated for the last seven weeks, that is currently the line in the sand between a significant retrace and a major upside breakout which could define a bullish 2017.
Thus far it’s been a significant retrace.