Being red means nothing. When a sector begins to go, they start popping like popcorn. Not all on the same day, just a continuous flow. And this chart says we go next. Today was to remain between 63 and 69. Anything higher, with volume, suggests the train is leaving. Very timely for a PR tomorrow.
Forget about that filling the gap to 5 nonsense. Multiple levels of support here on the weekly, a rising lower trendline, extremely tight bid/ask, and a 50dma. It would have to fall below them all. Only hideous news would do that at this point.
Pay attention to the breakout on tap.
