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this time the 1072 area didn't hold and we had a nice move down. and of course I missed it. now this level becomes major resistance.
I'm a little confused. there's a saying don't trade against the trend. I changed that to don't trade against gio5959. So there's a good chance I'm wrong, but for me the bias changed to negative if we stay below 1072. target low 50's.
we all have opinions and my opinion, according to a gann swing chart, is that we are in a state of 'wait' to confirm a downtrend - albeit, bulls are getting nervous
this chart depicts a simple way of looking at trends - a 10 simple ma and a 30 ema - price is caught in the middle (congestion-indecision) and a breakout is needed to confirm a trend change
a close below yest low would confirm a downtrend, imo
NEW YORK – A preliminary report on consumer confidence is expected to hold steady in October compared with September, though the mood is still gloomy heading into the critical holiday season.
now this level becomes major 
