Monday could be an interesting tale. With the holiday gone we will see if Thursday was the real deal. Volume was low, and yet things still set up a further correction. This range could hold a little longer, but it will still eventually break. Initial targets are still as above.

The average true range is about 17 which puts the 888.86 low in play for Monday. A close below that level would confirm a break. 880 area might put up a little fight whenever it is tested over the coming days, but will likely not hold for too long once prices start falling.

Cory Mitchell, CMT