Right back to work today, i stayed out yesterday so i could get a feel to what the market was doing..
The key spot for me was the 158.20 zone for geppy..a daily close below that level made me more bearish for the week (well...at least for now).
I'm keeping an eye out for a possible turnaround tuesday.....but remember the H&S i spotted developing on Friday?..that also is in play.
The key level for now remains 159.60...a daily close above that will invalidate the H&S...in the meantime...selling rallies is my strategy as long as the daily high is not taken out....
Looking to enter shorts close to Mondays open with SL just above the 159.60. TP1 is the 154/155 zone which is also the neckline for the H&S....
Not sure how the week will play out..so will take this day by day...
Happy Pippin
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