Very low participation today unless the last hour suddenly wakes up. Still short SPY and not planning on making additional moves. I have to admit though seeing the blogosphere with so many calls to a retest of lows does not make me terribly comfortable and I've set my stop at 199.3 a bit above the overhead gap.
Could be in a bear flag. We should know by tomorrow/ Weds latest what this is. One positive for the bears is CCI/ stochs bottomed out but we haven't seen a sustained bounce just a small one on weak volume.
Very weak volume and an exhaustion candle. Stochs/ CCI confirming so far.