The 23rd was a Directional Change and penetrating that low we would expect further downside. Keep in mind that the Weekly Bearish lies at 24965 and we have penetrated that level intraday. A closing beneath that level on Friday will signal we will most likely move lower into the week of 11/05. The bearishness is all about the elections. Real capital investment is deeply concerned that the Democrats are so vindictive that they will seriously harm the economy just to reverse whatever Trump has done just for spite. This decline has NOTHING to do with interest rates or trade. It is about politics.
We have a Daily Bearish at 25052 and a closing below that will tend to point to lower numbers ahead. We will see another Directional Change on Friday. We are not yet through this consolidation period and the main support lies just under the 24000 level starting at 23995.