5360 is a key level today. A break below here today will be short term negative however this move down is messy and very correctional so the decline is over now or it will complete very shortly. Its not in the fund managers/ institutional interests to let this fall too far before the year end. Many are counting on the ''Christmas rally''. As mentioned earlier this week, I feel we had the Christmas rally at the end of November however we may see some upside when all the retail clients give up on '' The Christmas Rally'' phenomenon.
We have some long exposure in the Weekly binary. I am not holding any spread bets and I will only enter these on very low risk set ups (like this morning).
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