Currently: Short Looking to: Cover @ $44.91
As of 1/24/20 close: $46.77
LAST WEEK: We suggested selling longs / getting short at last weeks levels with stops on a weekly close
above $47.44 and with a target of $36.50. Additional resistance was given at $48.70.
UPDATE: The European ETF (IEV) should pull back even if the overall picture is bullish. The downside target
in the bullish scenario is $44.91. However, were less than bullish right now and will be looking for a break and close below $44.91 as confirmation of our bearish stance.
We would sell / short bounces to $47.04 with stops on a daily close above that level and with a target of $44.91 short-term.