The KOD in the Index.
The KOD (Kiss of death), is a valid observation of the market movements when applied to trend.
When price breaks below a short term support level and the following price movements come up to that breakdown level, and fail
it is usually a swift and violent following move.
The XJO has a clear defined down trend in the Daily and the Weekly Chart.
When looking at the Daily chart ( shown ) there are 3 clearly defined failure points called the KOD.
With todays/tomorrows price action failing to cross the 5000 level this would be a warning of lower values.