Red Bar

The crew here was high fiving this morning as our prediction of a red bar event occurred today.  (And we got our +10)

But before we get all too giddy, we note that today's structure was a CLEAR B-formation.  And these formations can signal high-odds potential that the buyers are going to step back in tomorrow.

But today's red bar comes from a failure at the 1700 level, so this fact adds some odds back to continued selling.  But I'm sure sure exactly how much.  

Volume up, (how could it not be after yesterday?) but today still only a 12 point range.

One of these days sellers are going to swamp the tape and stir things up.

I'm sensing that we might get yet another red bar push tomorrow.

So I'm making the call.