We are due a low this month. However, the market is showing no interest in finding a good low with real buying. I have noticed that vertical declines result from cycle failures. That is, if we do not bottom this month (and we are witnessing failures on the shorter timeframes already...., you notice those little panics on the daily) then July could prove to be a resulting bloodbath as soon as a new monthly low is seen. July would also fit with another market characteristic that is genetic to dx that I watch.
I am a volatility hunter so always looking for the possibility of a panic condition to leverage.
Did you ever find Z? I'd like to see that chart he posted over there, updated. I think I know what it would look like but not sure. It was a price only chart with no time on it. Already, I think there is a break in tradition due to more awareness....but the deal will go on, regardless.