It was a big week, to say the least.

Look at the size of that big red bearish candle.

We closed below the low of Aug5 at $5118, which was my bounce level on the five minute chart.

I will be watching for a revisit to the level which could be an opportunity to go short for a short term trade.

If we get a bigger rally, watch the $5252 level, we need to clear that before we can go higher.

On the downside I have $4968, which coincides with the bottom of the pitchfork,  and then $4817 as our next stops.

Remember options are very expensive at the moment and may not move as you would expect them to.

Also, take your wins sooner than you usually do, take the money as you can always reenter.

Be careful out there, it is a full on battle.

Thank You For Reading … See You Next Tuesday,

Licia Leslie