The recent top at 1099.00 came close enough to the 1101.25 target shown in the chart that we should monitor the correction attentively. In addition, yesterday’s plunge in the final hour was bearishly impulsive on the hourly chart, although it hasn’t developed sufficiently yet to yield a downside target. Last Tuesday’s low at 1063.00 is a logical objective, but if it were to be exceeded, that would double the implied power of yesterday’s bearish signal.
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