with the report at the end of the week, those convicted shorts could get a case of emotional fear. Not that anyone would think the report to be friendly but the mind does play tricks on us. I'm an expert in the hallucination effect and once it begins it leaves you with no choice but to start pulling your stops closer. The report fear factor will have the algo traders trying their best to trigger a stop runner challenge. Along with that, the north end fish have been ignored for 5 days and could be very hungry.

A dollar lower and the downside patterns are complete along with the 30 day cycle by Friday, if the market wants to keep using that timeframe for a swing cycle. I'm setting my north lines more aggressively and will be burning the midnight oil, putting together my battle plans-----just in case that $3 pop does happen. The week before the last 10 days of trade for the expiring contract is when the volatility likes to create a range. Doesn't always or have to happen but when it does-----the last week of the month is the tendency for it to happen. Of course, it could go down $2 first and then come back up to the 53-54 area by Fridays close. Many of those 34000 open interest may be holding on for the last puke. If it happens they will likely quickly take their profits------if it doesn't happen they get cold feet and panic sets in to keep what they have.