Near Term Trend: Negative
Tuesdayâ€™s Close: 367â€™6 (+ 6 cents)
UPDATE: Uncanny how the high in July 2016 and the high in February 2017 is 396â€™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 itâ€™s been a significant retrace.