AS expected we tagged the the downtrend line from 2947 and actually closed above it. Interesting action on Friday with 2 rotations up and down. We almost tagged the 1618 extn at 22.5 but the 15 area proved a bit much. Just because we are above the down trend line does not mean that the down tredn is over. I mean, this can continue further and then drop again. Lets just see I am still cautiously optimistic. I do not think that from here we break below the 89.25 area. But i still am looking for the 2730-35 area to be tagged before a meaningful PB. I have drawn a rudimentary path of how I anticipate things to unfold. For now, the longs are fine till 74.5 is broken to the downside. I expect a move to around 2702 again at the open and then down to probably the 89.25 area tonight sometime. From there, I am expecting another launch to the 35 area. Anything can change that but that is my primary outlook.