the initial drop in August was too much and too fast. That contributes to the bend down of MA's which will take a long time and/or a series of big upticks to correct. I agree with D laoda, the sentiment is simply too bearish for market to drop rapidly this week, barring some major news coming from the euro zone. All news stories this week and last are nothing major so the market takes its time to rebound after initial dips. Short squeeze to OE is very possible.