Failing 92 seems to have allowed a capitulation of sorts.....I like this sort of thing. In true Strat form, one should wait for appropriate PA to show a reversal; I will likely be lurking at the 89.75 area though, as the bargain shopping has been profitable, allbeit, admittedly, very frustrating. I am fighting the tide on this one, wedded as I am to a fundamanetal view that the market has not yet accepted. Perhaps stop running is at play here as well. 92 was an obvious target.
This is a nice illustration of Strat's view that technicals really do superceed fundamentals in terms of practical trading. I will be pleased (and in a new pair of shoes!) if this market eventually hits 125, but at what cost in terms of stress and trade manipulation. The technical trade has been short for some time, and that ride has been eminently easier than my path.