As mentioned recently, “a push above .7275 could complete a complex correction from .60. Either way, I am looking to go short.” The rally through .7275 exposes the 100% extension of .6005-.7275 at .7566. A top could form prior to that level but there is no confirmation of a top yet. A daily close beneath the support line that has held since March would signal that a top is most likely in place.
