Market Update - 10/1/2010

We did remain below 1150 today, but we did not have an impulsive down day as I was expecting.

On the 5 minute chart, we seem to be hanging on to the trendline. It doesn't want to let go so quickly. But as long as we remain below 1150, this is bearish action.

1134 needs to be taken out on the downside for any further bearish action to occur.

Short post today, but I will have more over the weekend so please check back for that! :)