going to keep this one very short today. Although intraday I was seeing strength ... my end of day analysis confirms that we are not only in a downtrend, but that we have more downside to go before we are done.
Although I was hoping we would bounce sooner, it is looking now like we have 2-3% more downside to go before a bounce ... I am expecting the bounce at the rising trendline that touched the previous two lows.
The strength of this next bounce will tell us whether we are going to push higher with possible new highs in the next month or two, OR continue down to a new low.