On a macro basis: The decent trade back above $56.28 brought in $9.37 of the higher trade warned about above. The solid break above $58.13 projects this upward $2.90 minimum, $9.3 (+) maximum. We have seen $7.52 of this so far. This will come in at $57.17 today. These are now on hold. The break back below $59.96-84 warns of heavier pressure, likely down toward $51.00 (-) in the months ahead. We have seen $2.12 of this so far. This will come in at $59.73-85 today. The decent trade back below $61.02 has brought in $3.30 of the pressure we are looking for below. On a short-term basis: The decent trade below $61.64 (+.9 of a tic per/hour) projects this downward $2.95 (+). We have seen $3.92 of this so far. If we break back above decently, look for decent short covering to come in and a resumption of bull calls. This will come in at $62.38 (+.9 of a tic per/hour starting at 9:00am).
* "Decent penetrations" are specific and sent out in AM emails to clients.
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