Friday's action started the downtrend again. The RumWave indicators are kind of split on the remaining time of the decline. Overall, I think we will be down for the rest of the month. I can't say what the magnitude of the decline will be. However, the potential is there for it to be a violent swing down.
The RumWave score turned quite green but it is not signaling time to buy yet.
The most interesting thing of the 4 hr chart is the bearish divergence between the candlesticks and the MACD. It's not a jump-off-the-screen signal, but I think it is there.
The daily chart is just showing the start of the trend breakdown. A down day Monday will turn the candle Red.
As I write this I'm getting CNBC text alerts that Asia is down on renewed Spanish debt fears. Europe has been pretty quiet the last week or so.. too quiet.