Last week, we saw Home Depot (HD) find resistance at a key resistance area around 156. This week, price indeed fell from 156.Home Depot (HD) Daily Chart (click to enlarge) The crossroad:- Last week, we also mentioned that HD turning down from 156 could be a signal of more bearish correction with 144 or lower in sight. After all, price has been in consolidation/correction mode and the RSI holding under 60 reflects maintenance of the prevailing bearish momentum.- Also, the dip strong bearish candles this week, compared to the small bullish candles in the past month or so, reflects bearish bias.- So why the crossroad? Doesn't this simply show bearish bias?- Well first of all, before May, HD has been bullish. It has been in a pretty good uptrend since after the 2008 financial crisis. - Secondly, we discussed how 150 might be key last week. This week, price cracked below 150 during the 8/15 session, but we saw buyers here bring price back above 150 by the end of that 8/15 session. Price also held above 150 during the 8/16 session.- These are signs that the market is in a bull vs bear fight around 150. - I think if price stays above 150 and attacks the falling resistance again, we should not rely on resistance but instead anticiapte a bullish breakout that will open up the high on the year around 160. - Below 150, and the 144 low and lower will be in sight within the context of a correctiong against a secular bull trend.