The spot light is on Bull

It is hard to fathom what makes this market.  Is it a sneaking selling by the people "in the know" or Is it deliberate action by the bull to depress the price and shake the weak hands?   The volumn was trending low, so, It is hard to read one way or the other.  Even though the market was down most of  the day, the downward trend was not overwhelming clear until the last hour or so...  Nevertheless, after three days' lacklust action, the bull needs to take a stand now..

Almost all major indexes are near their  first support, if we break at this level, then, we are in for more troubles than we realized. 

$VIX barely changed in the last 3 days, this divergence from a failing market may offer some hope that the selling is just temporary and limited.

Also, whether investors are willing to hold the shares during the weekend is another test  as how fearful the market participants become.

So, the real bull, please stand up :)

The problem, of course, is again in financials, the xlf bounced off its resistance and promptly went lower, not a good sign.  the relative strong tech sectors get wrecked today by oracle's earnings.  This leaves people to scratch their heads to find the leadership of the market...

Nevertheless, a favorable seasonality may play the favor for a up day or two before the closing of the quarter.   obviously, this is not 100% correlated, thus, it should be taken with a grain of salt

So, good luck