Today's action was short term constructive for the bulls, but my belief it we have broken down through support which now becomes resistance from underneath. I will trade in direction of the downtrend once it reasserts itself (and bulls exhaust themselves). Price will lead the way.
I am seeing a major topping pattern that has potential to lead into a Phase 4 - Decline which would result in a series of lower highs and lower lows. Neckline area retest is an area I will be looking to do business.
