Relatively simple, but unexpected down today.Uptrend support on RSI was quickly turned into resistance at 3pm, signalling the tone for the rest of the day. Note the balance of RSI lies below the 50 and CCI lies below zero. The down trend could have been ridden all the way down to the bottom, using the 100 MA +20 as a stop. The most the price went above the 100 was 5 points.By 8pm a divergent bottom was forming, but it never made the convincing 3 pk PD bottom... Off the bottom, the price did break the down trend resistance line at 100 and quickly retraced to 95 to form an RS switch, confirming the reversal. Again the 100 MA break provided a "safe" entry at 106 five minutes later....but for a small gain of 20 odd points. The 7pm traders would have had a tough time tonight, picking up , at best, 20 or 30 points.....Solid action around the 23 and 38% fib. points to assist the descision making.
US markets are closed Monday so no report....