Currently: Short Looking to: Cover / get long @ 3,002
As of 11/8/19 close: 3,090.50
LAST WEEK: We suggested buying @ 2951 with stops < 2,945 and with an upside target of 3,139.50. We also suggested shorting at last weeks levels with stops on a monthly close > 3,060 and with the downside target for covering at 2,975.
UPDATE: New highs have been made and thus far the breakout is holding strong. Todays chart tells us that a pullback from current levels should take prices down to either 3,036 or 3,002 before another round of upside action commences (and takes prices up to 3,100 3,135).
If youre stuck in troublesome shorts, try exiting on the pullback to 3,002 (ideally). We would also be looking to initiate longs at 3,002 with stops below 2,998 on a daily close and with an upside target of 3,120.