Ford (F) update...

Ford had a strong morning and was butting up against its very important 50day moving average at noon but the bears showed who remains in control and the stock closed back near its lows. The gravestone doji that formed as a result is certainly NOT PRETTY! The strong rejection at the 50day makes that an even more important level to watch on a possible retest.
If the stock can get through its 50day on above average volume it will set up for an extension to $10 resistance or possibly beyond. But, as we saw yesterday, that is countertrend for the moment. Right now rallies still need to be sold. As mentioned recently, a break of the $9 level could be devastating for the stock and lead to much lower prices.