Buyers made scant progress toward a minor benchmark I’d flagged here Friday, implying that the burden of proof remains with bulls. If they fail to get traction, and soon, look for the downtrend to continue to at least 1623.00, or to 1588.50 if any lower. Both targets have already been noted here, and either could be bottom-fished with ‘camouflage’ or a tight stop-loss. Alternatively, bulls’ first flicker of life would come today on a print at 1673.00, just above a small peak recorded last Wednesday on the way down. It is visible on charts of 30-minute degree or less.
