down day... *PIC*
That 255 line was never properly checked when it got broken. One could conceivably make an argument for yesterday being a test of last line broken. One might become an egg on face recipient should they make such an argument, too. Looks pretty bad but will have to see what today hands us. Down another 250 in the overnight. Bouncing around pretty hard. Saw it in the overnight being down 250'ish then only down 50'ish now back down 250'ish.
On the monthly chart that test has been three months from the breaking above the 255. I always like a test at 3.75 time units from the break. Who knows, though. This could be the result of many things, not the least of which could be the election coming up. Could be they are just parking everything until after the election and an uncertain outcome. I'm sure the Fed has something to do with it. Tariffs...just another tax...could be messing with things. On and on the reasons could be dreamed up.
It is what the chart picture shows. A nasty break, all of which in the last 115 months have amounted to nothing.
Time will tell.