This is one of my favorite charts, and it continues to be worth gold:
Not sure how this works and why (well, I do have a theory) but every time we hit the bottom or top of this trend channel the tape makes a u-turn. Based on prior occurances chances are the down trend continues, at least for a few days. I’d give it to about 0.5 – then take profits and call it a trade.
Disqus is down again today it seems – sorry, but this one is out of my hands. Why they have to put a new database into production on a Monday morning is beyond me quite frankly…