Trending within the smaller structure with the resistance ~2950. The big story is the larger megaphone structure though. It's in play with potential downside targets to ~2700 and ~2150. (YES. See my earlier post containing weekly chart). Break of 2950 will mean we will hit the upside trendline in short order with targets around ~3050 area. My bias is short as more and more people are moving to sidelines and scratching their heads on what to do. It's a newsflow driven market right now. Not many people are shorting and certainly no big money is coming in. Low volume, high liquidity alogs are driving the price with news flows. A downside break will convert the trading crowd and then weak holders will give in quickly after that. There is a potential of a much deeper correction this time.