The common theme amongst the major indices is a short term downtrend very near to horizontal support. My opinion is more downside but I won’t be trading my opinion. I’ll trade the lines instead.
[right click on charts to open in new tab]
Eerie in its similarity to the first half of 2008. Average True Range is a measure of volatility with the line in the sand at 18; above 18 volatile and bearish, below 18 good for the bull. Currently ATR still at very high levels (the only time it was higher was Lehman.)