Daily Recap 1-23-2014 – Once more into the Breach

I got my strong move today, only it was not in the direction I expected, but rather down, way down. What worries me the most is breach and close under the support line that held since 164.53, and when joined by the negative divergence on the weekly chart (look at my weekly recaps) it may spell a bearish period ahead. The only positive sign I can find is that the 4 hours trend line held so far, but if it breaks there is nothing below until the weekly trend line at 177.

2014-1-23-Daily

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