Bounced down off the lower descending bollie...
Not much else to see other than a choppy slow leak in the metrics that suggests a depleting energy with a likely pattern in continuation... except that the ATR is rolling over and heading down... the only new directional pointer.
I think that is pretty typical for the behavior you'd expect, given the situation...
There are still going to be a lot of people who have been watching, who think every decline will of needs necessarily be matched with a bounce higher... some who will buy shares for the bounce that may never come... some who aren't coming to grips with the nature of the reality of the situation. There are likely a lot who haven't been paying attention who will get a shock when they do have a look. And there are a lot of fence sitters...
The volume was lower, and the trading spotty, today...
The pattern is a "gasp"... a "holding your breathe" pattern... reflecting disbelief and uncertainty. It likely will result in a continuation sideways and down on the intersection of the lower bolly, but as drift...
I don't expect accelerated dynamics, up or down, tomorrow, without some obvious institutional decisions fueling it. That THEY are holding their breathe now along with everyone else, rather than driving some dynamic in the trade... likely says what needs saying.
Technical traders are waiting for some "indication" from someone on fundamentals... and they aren't getting it.
JMHO
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