The market has held up well, but volume is far less right now than it was on the trend up. We are not seeing the same push on these moves higher as we did before. This still indicates to me the market is heading lower over the next couple months.

We could still get up into the 930 area on a last ditch effort to squeeze out some early shorts. But if volume does not pick up on the buy side soon, prices will start to fall under their own weight and the current technical picture will star to play out.

Cory Mitchell, CMT