Lack of Selling Pressure

It's ok if you must go
'Cause I'll understand if you don't
You say goodbye somehow, I'll still survive somehow
Why should we let this drag on?
--Tom Petty

Author here suggests that this downleg has yet to see significant selling pressure. Sure feels that way to me too. Most down days over the past two weeks have seen intraday 'buy the dip' rallies.

Stochastics on weekly chart do not indicate oversold conditions.

Do we need to see some 'straight down' days before this leg is done?

position in SPX