Recently, I noted that Insys Therapeutics $INSYS was anchoring above $7.00 and thus opening up a bullish outlook. However, failure to clear above a key pivot at $8.70 resulted in bearish swing that broke below $7.00. This price action suggested that bears are still in charge. Therefore, I think the market will be fading the next rally.INSY Daily Chart(click to enlarge)$7.50 Resistance:- Price broke below the 200-, 100-, and 50-day simple moving averages (SMAs). - It also broke a rising trendline.- The daily chart now looks like a case of bearish continuation.- In this scenario, we should anticipate resistance around the $7.50 area should price rebound.- If price does hold under $7.50, we are even more likely to be in a bearish continuation scenario, which has at least the $4.10-$4.50 lows in sight.