As the chart below clearly shows, this is a significant level as it's the 62% retracement of the recent slide..if anything, pretty impressive!
So, to steal a phrase from that quintissential NYC rock band, The Strokes, "Is This It"?
We can't say for sure but as our profit taking MO today indicates, we're not taking any chances.
One must proceed with utmost caution at this point....
The Stealthy Trader