Forming a Top....

As I suspected, we are not able to break the high on August 7th. Each attempt has failed when met by significant selling pressure. There is alot of overhang at this level and I just don't think the momentum is in place to push through. Look at the triangle forming. Lower highs and more violent volatility to the down side. This will give way to downside breakdown. The market must retrace and regroup with more participation. There is alot of money on the side waiting for a correction. They will not get in at these levels...