RXP did see downside follow through in response today, so perhaps the weakness (selling pressure) overhead, is stronger than the more recent shakeout.
Perhaps a touch of "demand overcoming supply" in today's bar though......as the spread narrowed (and the downwards thrust shortened on a smaller timeframe) but volume increased.......sadly in a downtrend the strength of this indication this can be discounted somewhat. So if the overhead weakness remains in control I would discount this sign.And it wasn't a particularly strong sign, as volume was just about average really.
