Heikin Ashi with Volatility Stops Show Downtrend Intact

The daily ES futures chart using Heikin Ashi candles with volatility stops continues to support the view that we are in a new downtrend. We do want to see the lows from June 15th taken out for further confirmation, but I believe that is all but confirmed at this point.

There are too many bearish patterns on too many major stocks at this point to suggest that we can rally much further, if any, from this point.