Nasty relapses usually improve our odds of making a profit when we do a ‘mechanical’ buy, but in this instance the gap-down plunge was too strong for me to suggest putting a bid at the green line (or slightly below it, as was possible at the close on Friday). It is not the punitive behavior of the selling per se that has put me off, but rather the protracted A-B leg that amounts to just a weak impulse leg.  We’ll watch from the sidelines for now, but please note that the D target at 118.08 will remain viable until such time as C=98.44 is exceeded.