We have come off the highs in what look like double tops and are comfortably in the bear channel. Today we bounced off the 38.2% fib for the retrace. Unfortunately we formed a small descending wedge today, which means more than likely we will get some rise tomorrow. I would look at the neighborhood of 88.16 as a good short entry. Either SDS or FEB puts or later. I still think we will test the bottom trend line by the grey bar I have marked.
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