We're getting some support at the 50 SMA, but that would be expected. If we continue to bounce early next week, we have the 8ema and the 20 SMA to provide resistance. They also line up with the lower trend line I drew, but I don't have much confidence in that TL until it proves itself in battle. It may just be a figment of my imagination. My expectation is to go up a little further and test those moving averages, then continue back down. If we close above them I may have to bail out of the trade.
If we just continue down that would be great. If we chop a little sideways along the 50 SMA, we'll just have to watch and see what happens.
Meanwhile, the IYR Jun 85 Puts are doing fine, thank you very much.
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