The Dow did see a higher volume selling day but volume was over half of what it was at the start of March. The index closed on short term support line off March lows; another down day tomorrow would break it.
Last week's breakout in the Nasdaq is under threat and may have reversed into a bull trap - leaving very little room for bulls to maneuver.
Whatever happens over the next couple of days it won't have the support of traders. Next Monday will be the real test.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.