Short term charts show a double top that is difficult to make a definative e-wave count. Both moves from tops are motive (5 segments) The move from the second top looks like it had an extremely weak wave 2 bounce and started a wave 3 this week. Today the market gapped, as typically happens in a wave 3.
Bollinger Bands are both still pointing down. MACD shows continued downward momentum. The stochastics are oversold, but tried to issue a buy, instead hooked to remain in oversold.
The long term charts clearly show a 3 years rising wedge whose lower trend line has recently been broken. The bollinger bands are pinching and the price crossed from the upper band to the lower band = bearish. The price is testing the 50 week moving avg. MACD issued a sell signal in late September '05. Stochastics are half way to being oversold.
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