Daily wrap up 08-25

Finally the pattern we were observing unfolded bearish in the afternoon as expected. Though a close look at volume was revealing weakness since yesterday night I think many bulls got trapped by the green spike at 10:00 EST.
Other factors that contributed to this bearish move in the afternoon: Bonds rose (TNX -1.26%), Oil dropped around 4% and EURUSD close in red after testing 1.4330 level for a few hours and also left a disturbing doji candle. As of 7:23 pm EST is opened and evolved red dragging equity down (ES at 1022,5 now)

The OBV above commented pattern, together with the weakness at the close make us think this retracement will continue tomorrow. Oil and currencies opening on 08-26 (EU time) support the ST bearish bias for tomorrow