Continued heavy sell volume adds enough weight to the major indexes that we’re putting the odds favorably in the Bears camp. This is an immediate bias, not to be confused with a longer-term bullish perspective backed up by fundamentals.
The 50-day moving averages will come in play as downside targets, unless we see: 1- Sell volume start to dry up, and/or buy volume start to pick up again. Volume often precludes price action. Obviously, any serious break down in leadership, or resurgence, will be additional, key evidence.