Prices -- which had fallen below the neckline of a head and shoulders pattern and looked poised to move lower -- stalled in their decline. However, prices are still below the neckline and the shorter EMAs are moving lower.
However, the IWMs continued their move lower. This makes sense as this is the more speculative area of the market -- people would sell these holdings before others.
The transports are still below their trendline.
The one holdout is the NASDAQ which is stubbornly holding to these levels.
