Bears back in control

What a day! A gap up open, an intraday double top, and a crash that filled the gap. What more could a trader want?

The day's high was rejected at the 21 day exponential moving average, which is bearish. The daily candle was a gravestone doji, which is bearish. Friday's monster red candle has not been invalidated. A new descending trendline has been established. Click on the chart at the left to see this in detail. I think we re-test the 1030 area again and still hold to my target of 1012 - 1020. I can see 985 further out as a longer term downside target.

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