Swing Down

Well, yesterday's excess above failure continued today. The morning action chip chopped a bit but was firmly rejected at VWAP twice before really starting the breakdown move an hour and a half into the session.

Price action was crisp, clean and simply petered out at an arbitrary level at 10 o'clock. The only reference I could find there was the daily trend line.

So, the trend is down once again, but sellers are not firmly bitch whipping the buyers.  They short cover like babies.

We will be on the lookout for a buy response tomorrow.