here is the big chart.
Support here; is that horizontal, and that uptrend off the swing lows, and the 50dma. I hate to say... with all that support!!! Seems like a good bounce would be expected.
The Trend chart.Going to talk some EWT here. Red you have wave 1 and 2, then wave 3 is represented by the light blue. Which I break down as a Wave 1,2,3,and now we are in 4
The Friday move, there isn't an impossibility that it's a larger flag, but also could be just a simple pause.
I'd also suggest that there is no reason that the downtrend isn't over. The Real Sentiment Horror show is that we have many new Top callers. and maybe the good thing is, they will look for any up move to get short.... or they are already short and we will get a bounce.
As I looked at sectors, most of them have only just started to move and most of the motion is in the high flyer's; Cyclical and banks and Real estate.
Shrug... Heaven and hell I'm covered...
Let me also mention that earnings start Wednesday and normally the market is a buy at that point, and negative nervousness is priced in.
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