Long way to go (down)
Just back from the long vacation and start feeling the market again. Dow got hit by 5 D-days, and 3 D-days in a row recently. Previous support line around 12800 got penetrated within 2 major D-days. The re-bounce is week and lack of Vol. In May, Dow formed a double top and RSI showed weakness on that 2nd top. CCI still telling me market is in the bear mode. Bears have more excuse to sink the market down more, while bulls are having trouble to find reason to pump the index.
Naz shows just a little stronger than Dow. Holding its previous 2430 range support line and still stay on the uptrend channel. Tech even up with increasing vol days ago. However, it failed to make a higher high and was pressed down by a downward trend line. RSI/MACD shows weakness at this point. CCI gives a slightly positive sign, not sure how long will it last.
When turning my head over to AAPL, this leader in tech is slowing down and posing a more like for a dive soon. Does it mean that the tech is going to have a big move in the down side? If so, we really have a long way to go, since it might trigger another wave of bear attack.