Update

OK, so here’s a chart- just about as simple as it gets when it comes to technical analysis. The 200 day moving average is perfectly flat, and what we’re looking for here on a daily chart is the general pitch of each average. The 50 is still angled upward, so the bulls should be given the benefit of the doubt. So what happened today? We went down and tested a trend line that’s been in place since December, and given that the bulls still hold sway, it responded. No trend goes on forever- the market is having trouble holding gains and this should rightfully be perceived as a warning sign to perma bulls. Likewise, the market cannot entice the short sellers to hold their shorts overnight, so we continue to see morning selloffs followed by afternoon rallies. There’s no point in guessing the point where this will change, other than the likelihood that it will and probably soon. Still in good shape with our spread with 2 trading days left.