Not proud....

should have kept the first instinct that it fell out of the rising wedge and followed through. Yesterday was a retest (price action kind of clouded the issue, although it was 50-50 chance for up trend since other indicators were not confirming).Now it has reached the second target of 616ish. Is it not amazing? Upon more reflection, since it has completed Fib 78 and arrived at lower channel, the anticipation was for a rebound. (DIA and QQQQ have just about filled the gaps). Monday's numbers are 624, 619 and 610. A WR7 which indicates exhaustion (in Selling). You can also see the smaller downward sloping channel within the bigger upward sloping channel. The upper line of the small channel is 620ish and perhaps a rebound to that level early next week. Whether it rises out of the small channel to retest the upper line of the bigger channel or continue its fall, only time will tell. Right now, the bias is continual its decent to the third target of 595ish.This number is the lower line of the weekly upward sloping channel (bearish) and is the fib 78 retrace of the whole rise from Mar low. Furthermore today it closed below the weekly pivot of 625. The market is rolling over.

2c