After the market bounced back on Thursday  many bulls thought that this was the bottom, but then the news hit that Italian banks were now under review, and another cycle of worries about European sovereign debt set in.

I believe we will see many rallies and reversals on headlines about Greece, and then about the other countries of the European periphery.

Now the indices are back near their recent lows, and the downtrend is still intact.

In order  to make money you have to trade with the trend and not to fight it.
Next week is likely to be challenging.