Staged a proper W-Bottom last week with price reaching the near term target @ 1905 which is also the new Monthly Pivot and the area to watch for a break. This will set in play another possible setup with a break above 1905 setting price up for a move higher towards 1945-1950 thanks to what now looks like a cup and handle formation. This move will be invalidated with a close below the Weekly Pivot @ 1888 which could see price retest the Daily 100SMA which also coincides with the Weekly S1 Pivot @ 1860.