SELL BIAS CONTINUES AS RANGE BREAKS SHORT 9/20/13

Yesterday we noted that PA was likely to pull back to find a lower support after the extended bull run.  Price will find a lower support before another move higher.  This also servers as a "better" price for the institutions to entry for the next move.

from yesterday P.M.

[15:27] <CM> then buyers at 14  in a channel 14-16  bias was/is long since we were bouncing off the bo5 in the 14.75 area  expect pa to run back to sb at 19.75   

PA worked back to 1719.5 at the U.S. open, and bar 1 sold.  By bar 6 were were breaking the SB and had a FR (failed reversal) at bar 15. Off to the bear races as price pushed to lower selling BO points.