Commentary: We wrote on Friday that with no evidence of a bottom, we must remain bearish. However, at this point we urge caution with regards to pressing the short side.
The nearly 3 year support line (will be 3 years in November) is being tested on the weekly and weekly RSI exhibits bullish divergence at this point. Additionally, the drop below 1.0340 may have completed a 5th wave decline at a large degree of trend. Strategy: Flat