I don't see how we can possibly take out either last weeks high or low, like we should if this is indeed a turning point. Also, I don't know if we got a directional change either.
The charts, for the most part, look the same, so I'm not posting a new one.
My interpretation is that we got a turning point low last week, and are riding that into this week, and are getting a high, but lower than last week's high.
Polny is calling for a down week, and I am probably on board with that.
UPDATE! Some extra info
However, the main bank of support lies at 17710 followed by 17330. Only a weekly closing below 17330 would hint of a more serious correction. We did rally back and closed above technical support at 18068 last Friday. Now we need to pay attention to this area for a breach of 18050 should mean PAY ATTENTION. A break of 17990 will be more of a warning and this means last week’s low of 17959.95 comes into play. This would warn of a possible drop to 17710.
This is on the dow. I believe these are all weekly numbers. We touched 18050 this morning and bounced off of it. So just watch the close. If it's close to 18050 but above, I will probably do nothing. If it's below 18050 I'll be short for next week.
I think it's going to close below 18050. We are close enough now that I don't think there's enough upside to play it before then. It's a .1-.2 drop from here.