Follow Up Short Term Down Trend

As a follow up to my previous post on May 1st. The trend appears to be moving downward steadily. The separation from curve 1 and 4 is increasing. It implies that the momentum or overall outlook for the market is souring and has peaked. We may push against the 200 day MA sometime this week in the hourly window. After moving past the center of curve 1 we may see a steep decline and touch on curve 4. If we do hit support on our way toward the 200 MA we may push up, however, we still have some distance to go.