After what begin as a promising bounce yesterday afternoon, the bulls could not hold up overnight and we are back to lower lows on the 4 hour. We positioned ourselves for the potential of a daily higher low and thanks to the strength of the bulls allowed for profit or worst case break even stop losses. At this point hourly and 4 hour RSI are approaching oversold but we will likely need to drop to the mid 9k range to see RSI levels break 30. Back to patient. We will continue looking for setups to position ourselves for a more prolonged bounce, but always a good idea to take profits along the way and protect the position as it is fighting the trend. I personally am not making any trades until at least the 5, 15 and hourly charts are oversold.