This DJIA chart says it all. After the gep-up open on Monday there has been no movement up or down. Resistance came in just between two Fibonacci retracement levels, 61.8 and 78.6, from the August 16th 1,000 point Dow decline. It would take a run above 35,627 to change from bearish to neutral. But for a handful of "leading the charge" stocks (TSLA at the top of that pack) there is nothing attractive on the Long side. I'm watching VXX closely as it is so very oversold and its been six months since it has triggered a Buy on the Daily chart. That's too long on a historical time line.
