We have hit a pivotal time in the stock market. This market needs to correct, and there is a strong chance it is happening right now and will unfold over the coming weeks.

The pair broke below the trend line, and had a strong bearish close the day following. RSI also did not confirm the last move higher

A likely target for the short is the 50% retracement level which also corresponds to an old support level at 820.

880 is the closest major support level, a close below that point to a test of 820.

Cory Mitchell, CMT