We were pretty bearish yesterday, we still are… but that close yesterday has us just a little puzzled. The open today makes a little more sense. The trenders are telling us any bounce is a short-able reward as these markets not only have to correct lower, they have to establish a trend lower.
The Zweig has found resistance and yesterday’s action barely put a dent into the Z-value:
The CVI has a little bit of negativity added to it:
Our 40 DPI continues to get hit, but took a little bit of a respite:
The NH/NL took that bounce:
The trenders are remaining steadfastly bearish now: