as mentioned yesterday the thrust indicators that backed off from their overbought highs would likely retest today and reach overbought again.
that is what we saw happening and what did happen today on the charts at 12:26
we are now bearish on the day and looking for another bounce to become more bearish into the end of the week and month end as ive talked about for weeks.
yesterdays thoughts for month end were updated by answering the question whether i was still looking for a more serious low as far as the RUT is concerned.. in short
not at this time as 1134 and the LOD 1131 i think were low enough but i think a retest into the 1134-1140 area is more likely come endof month or early AUG depending what the
Feds share as their next advertised asset purchasing program.