A month ago in December 2018, I noted that $DSW was in a bearish breakout and was opening up a period of bearish correction.Designer Shoe Warehouse (DSW) - Bearish BreakoutDSW Daily Chart(click to enlarge)Pullback:- As we can see on the daily chart, price found support around $23, just above a previous resistance.- This showed that bears were tentative in this market. It also coincided with the current recovery in the general equities market. - In the previous update, I noted that resistance around $25-$26 would be a signal for further downside. - So far price pushed above this resistance. BUT, we can see that the breach was relatively brief (2 sessions), before price fell back below $26.- The RSI is also holding below 60, which is a sign that the prevailing bearish momentum is still intact.- Essentially, the rally from $23 is not a convincing one.- In the coming weeks, if price can close below $25, we could be looking at a continuation of the bearish correction. - So far, I don't see any reason to change the bearish expectation towards $20, and possibly the 2018 low around $18.- At this point, a break above $29 would be a sign that the market is no longer in bearish correction mode, and is rather in a sideways or bullish market.