Case for the short term bounce

MOMO  (weighted in our TREND Indicator) for Price and Money flows (highly weighted in our TREND Indicator) looks bearish, but the short term IWM optimized MOMO Indicator at the bottom ,that tends to react faster, looks prone for a bounce.

 OPEN INTEREST is medium term bearish.  (weighted in our TREND Indicator)

Here you see our TREND chart resembling the SPY, EWZ, XLB chart.

  EXHAUSTION is also  medium term bearish.  (weighted in our TREND Indicator)

The bounce could run for 1-2 weeks at best.