Commentary: We wrote yesterday that “if an impulsive decline is unfolding from 2.1160, then the decline should accelerate in the next few days in a third of a third wave down. If we see 5 waves down on the daily, then we will get an opportunity sell the wave 2 correction that ensues. Those that wish to begin bearish operations now should look for resistance in the 2.0230 area.” Cable has plummeted below 1.9900 and the next objective is the 161.8% extension at 1.9525.
Strategy: Flat