bluesdog thursday, page-85

i dunno - i'm really torn here. it looks like a normal run-of-mill kinda downtrend to me.

however, bearish sentiment is high (which of course is bullish). but commercials have been increasing their short positions since mid-may (bearish).

stoch on the daily is close to oversold (bullish)....but it can remain so for longer than bulls can remain solvent.

based on funnymentals, we may be due for a period of distribution like pattern perhaps.

imo, t.a. looks bearish....but, i cannot for the life of me figure out what this ultimately means. new lows?? double bottom wouldn't be quite right.

heck - i'm too tired and just can't see what the intermediate pattern may be.