Retest

Well it looks like they'll retest $113-ish area where the neckline is, there may be a lot of orders stacked up there that they are gunning for. It "could" precipitate a fall if the failure is spectacular and volume rises, or it could be back to the slow drift lower. Or....?

We'll just have to continue watching. 3C is in a negative divergence on the retest, but it is relative, not leading unless you look at the 5 min, that is leading. The other averages look a bit better then the SPY, but the SPY is the one everyone is watching on the $113 level.