The Bears are Splashing Back into Action? How long with they Stick Around?
2D, 5m. - May 21 - This was the second trending day to the downside in what has been anticipated as a long overdue correction or "pull back". We had a nice put trade that went with the Trend. Internals were weak and supportive of a bearish move in the market.
20D, 30m. - May 21 - Following the Channel Trends can be interesting. It has been straight up for so long that a break has become exciting in interesting. The Chart would suggest a rollover and a move to the South Side. Support at the bottom of the Channel is critical for the Bulls. Penetration of that level would be very Bearish.
3M. Daily - May 21 - Again we see a suggestion of a downturn and a break in the Trend.
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