Quadruple Bottom?

It's not in the way that you hold me
It's not in the way you say you care
--Toto

Trannies are touching near term support at 8300ish for the fourth time.

Textbook technical analysis suggests that support gets weaker with each successive touch as demand I stripped away by layers of supply.

Stated differently, quadruple bottoms rarely hold.

Divergence between Dow industrial and transportation indexes continues to beg for resolution.

position in SPX