Prepared by Jamie Saettele, CMT
The drop from the 9/19 high is deep and confidence in the upside is low as a result. The decline has resulted in more than a 61.8% retracement of the rally from 7712. If the larger trend has turned up, then price should remain above 7750 (save for a spike). Exceeding 7832 would increase confidence in the upside.
LEVELS: 7712 7748 7774 7815 7832 7890