I guess that the end of month buying spree is over. There was a little technical problem with the $TICK for the first 30 minutes of trading, but the data started up at 1000 ET.
When in these down trends, the best thing to do is look to fade any corrections to the upside as indicated by the blue line on the 5 Minute $TICK chart, which is the 2-period SMA of the $TICK. I then look at the 1 minute chart for indications that the correction is over, and the trend will continue.
In coming days, we will see if this is a 50 - 62% correction, or another test of the low. Probably another test of the low.
Charles
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