Market attempting to stabilise after the strong recent selling, and still below the S/T SELL signal line.
At a critical juncture and although a recovery from here is possible, much further weakness would likely release another strong downward movement.
It is notable that the market is continuing to sell into highs, a characteristic evident since 21 September, and so a close at, or near, the high of the day would indicate a change of mood.
Continue to watch the declining resistance lines for evidence of stabilisation and/or continuation of the selling.
Considering the recent selling the T volume oscillator remains relatively unscathed. It would be much more preferable for the market to stabilise at a lower level in the oscillator. We shall see if there is further downside ahead.
Warnings continue. Market is unstable and dangerous.
Be prepared for whatever is coming next, and trade with confidence:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.