Setup but no trigger

Today's nasty 165 point decline in the Dow (courtesy of the Chinese Communists) took us under the ascending daily lower RTC line but closed exactly on the line itself. Check it out:
For a definite bearish setup, the close should have been below this level (10,979) but I'll call it close enough. Is it finally time to call the top? Tomorrow will tell if the setup triggers as a trend reversal or if we climb back into the RTC channel negating today's setup. For what it's worth, the ES futures are actually up 450 at the moment (12:30 AM).

In the meantime, I note that gold was hard hit today with AUY falling to 10.65, something I thought might be coming as I mentioned last Friday. It is approaching a tradeable level here but I will wait to see what tomorrow brings before pulling the trigger on gold.

Today's action put Lowe's (LOW) on sale, so I bought some at 21.03. I note the following news, courtesy of Well Fargo Economic Commentary: "Housing starts rose 0.3 percent in September, which was well above expectations. Starts of single family homes increased 4.4 percent, while multi-family starts fell 9.7 percent. Single family permits rose 0.5 percent." This can only be helpful to LOW.