We are heading towards the upper trendline of the current downward channel and are within a 50%-61.8% retrace from the 4330s high reached on July 1st to yesterday's lows.
For a short look for weakness up to the 4250s, with a stop above 4290.
Otherwise, shall one wish to marry the long side, look for strength in the 4150s-4160s. The 7-day average however is in the 4180s and might provide support as well.
Daily momentum is positive, weekly momentum is negative. Happy Bastille Day!
