May 8th Market Direction

Although the indexes are trading indecisively Today, there slightly lower trading is not doing anything to show a change of investor sentiment of this current downtrend. Obviously, short positions continue to work and there are only a very few bullish positions still showing positive trading i.e. CVM, ATAI. As long as the indexes are trading below the T-line, assume the downtrend remains in progress. Currently there are no indications that bullish sentiment is in control.