Intraday reversal means the bear is back at least for a time.

Looks like my model correctly warned about the morning pump.  I followed up with a post showing that FAZ was 95% likely in a 5th wave triangle throwunder.  The technical damage done below is very significant.  That top green line is the trend line for the rally whose channel goes all the way back to June 2012.

You can see how the chart pulls back each time that line is hit.  The next likely support is the bottom of the channel.  If that can't hold then the great bull market since 2009 could well be over starting today.

But let's not get ahead of ourselves.  One wave at at time.