I am taking a look at the daily chart this evening right as the daily candle is coming to a close. I see that we fell out of the descending triangle I was watching but we did not fall too far. It got as low as 8090 on this chart but has since found its footing in the 8150 area. We are still seeing the tight Bolinger bands and they havent been this close to each other in a while. I am still waiting on this pattern to play out. If we do fall much further we can look to the white line on the chart I drew which has acted as strong support the last 3 encounters we had with it. Looking even deeper (on the weekly) the 50 MA is at around 6800 and the top of the cloud is around 6500... Just something you should keep in mind. I like to look for possible future support and there is not much under us at this point. If we fall we are in no mans land. The MA's and cloud will catch up but in the mean time we could see some blood. If you cant tell Im bearish. I would love to be bullish. I just need to see something that makes me think we are going up. Right now all signs point to a drop. The path of least resistance is down. I would love to wake up to 9k in the morning but with the death cross looming on the horizon I fear we are destined to drop soon. The death cross may not occur for a week or 2 or give or take. But many times the price drops before the actual event. The golden cross (opposite of death cross) saw the price go from 5k to 14k. Now the opposite is happening. We will have to see what the end results of this are. But judging from the price movement on the golden cross I imagine we will see some red. Daily volume is at $15,217,146,108 which is good because it is a slight increase. Nothing major though. Just trade wisely. (WTFDIK?)