What a week it has been, super rally on the ALSI yesterday followed by a waterfall late afternoon drop on the SP500 last night (+2% from high to low). The ALSI broke through major resistance early on in yesterday's session squeezing up towards peak vwap and next major resistance at 70k. I noted that the 1hr/4hr RSI's had both entered back into overbought territory and it seems today the froth is likely to unwind with some levels getting tested below. We have NFP later today to add to the volatility and its end of the week so time to play it safe.
Things to note: Non-farm payrolls
Supports: 69000/68800/68500
Resistance: 69300/69500/69800
Day Pivot: 69220
all levels are based off the futures market.
