As expected a correction to test support levels below commenced on the open and ran out of sellers by mid morning. Pay attention to that detail over the next couple of days. If prices can’t test some semi-important support levels before buyers come in — my expectations may not be met. This week will prove very important to trade going into expiration and the seasonal weakness associated with Labor Day.
Major Support:$8.04, $7.55, $7.14, $7.078, $6.88, $6.754,$6.38, $6.02, $5.623, Minor Support:$7.35, $7.41, $6.42, $5.548, $5.40-$5.45 Major Resistance: $8.95, $8.996-$9.057
