XJO is being sold into at the moment so it looks like they are banking on a retrace at least on the DOW. Doesn't mean its (DOW) going to collapse but it could knock us back a couple bars or a week and with NCM underperforming the market at the moment its likely to suffer that bit extra (or more earlier), Hopefully its (NCM) already preempted most the damage and doesn't get too much more downside but I wouldn't rule out a revisit of the low 33s. Very high volume down so possibly some hidden buying in there but the wide spread is a worry and you really want to be seeing LESS supply/volume on these retraces. Looks like its coming back to the downtrend median I have pivot points at $33.95 and $33.77 and then you've got the lows below that.
NCM Price at posting:
$34.02 Sentiment: None Disclosure: Not Held
