Yesterdays SEC announcement timed perfectly with the June Futures expiration allowing the futures traders to make money on the short side into expiration. Now a new day dawns and retail thought the SEC announcement would take us back up......wrong bear trap. We're heading lower if we break the prices on the chart listed. This is a 4hr chart so expect this to play out over a couple of days possibly for a target below marked on the chart. If we do not hold that support we'll probably get capitulation with traders throwing in the towel upon which we will go much lower quickly as we head through the weekend. Emotion does trump all charts so now you have the road signs to watch. If we hold the 61.8 retracement and bounce then the downside could be prevented but only time will tell at this point.