We have dropped enough to look for a bounce, but the conditions aren't good enough for me. We are oversold from the 1 hr to the 4 hr RSI, but the 12 hr and daily aren't near oversold on the RSI. We had the 28 day, 50 day and 200 day moving averages cross on the 1 hr, which is looking pretty bearish. We'd be better off if we bounced off the white trend line around 7100, but there is also the risk of breaking lower too. We are seeing a bit of buying, but there are no sequential setups on the Tom Demark indicator. Buying because the 4 hr got oversold is not a good enough reason for me. It could grind back up to 7700, but that's still not good enough either. Chaikin Money Flow is below zero all the way to the daily chart. Volume is also weak. Unless we dip down to 7100, I will definitely sit this bounce out.