Back on July 31, I posted a monthly chart of feeder moo's showing how over bought it looked...calling it stupidly high. Well, here is a daily feeder moo chart. Granted a large gap was set in today which may have to be filled before any further down can occur. This is a pattern one wants to put the evil eyeball on. There exist a range. A false breakout to the top side of the range...a trip down to the bottom of the range...a bounce up to the 50% point of the range and now back down to the bottom of the range.

Given the seemingly overbought condition shown on the monthly chart and this pattern...if one is inclined to play this market...eyeball this. As usual all of this could amount to so much cow poop and it heads up.