Significant Selling was noted last week.
1) Thursday RTH closed below 5976 (most recent Buying Day Low (11/07). That’s a mechanical sign of weakness.
2) Significant Selling was marked (red) on Thursday.
3) Friday was a weak day.
Having said that, the net result was only a 50% retracement of previous week’s rally, so not convinced Sellers are in Control of longer timeframe… yet.
Even so, I’m expecting a test of the Support at 5771.50, if Buyers don’t respond quickly.
