Starting to Slip
The essence of downtrends is failed bounces. Once the market breaks down, that is what we watch for, and so far today this bounce is not looking too hot. We are still in positive territory, but breadth has slipped, and we are testing the lows of the day. Apple (AAPL) is a glaring negative on a day when we were well set up for a little relief bounces.
What will cement the fact that we have fallen into a downtrend is a lower low. We already have what looks like a lower high, but now if we take out the recent lows, the bears will have seized the momentum, and bulls will be looking much harder for an escape....83 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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