In play… Repeated attempts to go higher overnight and a failure to close the Sunday night gap was a big tell, IMO. 4090 - 4100. If that area doesn’t hold we may certainly start considering if this will be a down week. For now, let’s consider it a tradeable pullback or simply a down move.
The neckline should be as flat as possible IMO. This one is practically drooping down on the right side.
Overnight doesn't carry much weight these days. Once the RTH opens, it could completely reverse. We've seen that happening all throughout the past 2 weeks.
Regardless of all that, we’re due a pullback here, buddy. Maybe this is all we get, but I have my eyes on that 4.1K level for now. A larger gap down on the RTH Open in that area could be a good buy, though. I’m short for now (29.50) with a buy order at 09.50. 10 point stop. Headed to the office so this one will stay unmonitored.
A very high probability according to my calculations (not guesswork or hunch) we have the next 4 as negative trending days (nothing severe) and Friday recovery day. Let's see how that pans out.