First sign the weakness came from the "Matching Highs" from 11:00-12:00 candle stick pattern then a Tweezer Top candlestick pattern from 2:00-3:00.
Daily we formed a Shooting Star and the STOCH rolled over with MACD almost crossing.
The bears defended 850 on the daily chart, even though the bulls were able to climb above it they could not close above it. A close below 850 gives strengths to the bears. I got long some SDS during the Matching High candles.
MEGA B:
During the course of the day. The upside were leading, but the strength at the end of the day was in favor of the downside. There was slightly above average volume for the decliners and slightly below volume for the upside. Looking at this data and today's charts the bears clearly took control of the market at the end of the day.
MEGA-
$SPXA200-keep declining
$SPXA50-ticked down a little today. If there is another big sell off, the SPXA50 needs to confirm it, or the market does have support.
VIX-Looks bullish forming a hammer today. It could break out of its downtrend line this would be bearish for the market.
$NYMO- MA's are rolling over and getting closer, we had a down tick today which gets us closer to zero.
$NYAD: Just showing this to show there were more advancers but the number of advancers over decliners is getting weaker each day
