The 50-Day EMA sits above and is offering a significant amount of resistance, so I think a lot of traders will be paying attention to that technical indicator. Above there, we have the $1800 level, which is where we had pulled back from previously, with the 200-Day EMA sitting above there. All of that could cause a significant amount of resistance, so do not be surprised at all to see a huge fight if we try to rally.
Clarity is not exactly his forte, so I anticipate that we have sloppy trading ahead of us. However, I do think that the support area underneath should be rather significant, so it’s going to take a lot to send the market through that floor. Another real possibility is that we are simply going to grind in this overall consolidating pattern.