GEV broke down from its parallel channel and never confirmed above the declining trend line, then sold off hard; selling may continue into the 784 fib support, where a pierce should set up a technical bounce back toward the 863 retrace level, with earnings on the 28th a possible reason for the early profit-taking.

This is GEV down over 10% at one point, down over $110 on the day. It did finish off the lows of $813 and now closed at $827. But guys, this was basically down, down, and down all day long on GEV, illustrating just the sell pressure amongst the tech department.

Now, guys, we've got GEV earnings coming up next week on the 28th. That could be part of the reason of the profit taken. Investors seeing some other techs get hit hard. So, they were just going ahead and stepping out a little bit early before earnings.

But guys, this is a fantastic breakdown, retrace, fade play. Look at this parallel breakdown, retrace, fade. Notice I've got this other declining trend line. Price got above it, but did it confirm above it?

Did it excel after putting in a daily close above that trend line? The answer is no. So, you can see how just two simple trend lines. Yes, this is a parallel, but two with this declining and the bottom range of this parallel really helped isolate this entire movement on GEV.

The breakdown, it struggled here for a moment. Was looking like, hey, we may have a shot to get back inside that parallel and then it price ran into it like a brick wall and since rejected, never confirmed above that declining trend line, which then ultimately led to consolidation and a kerplunk on the chart.

So, where's the next support? I grab my fib tools, take that from the most recent pivot low, and then draw the trend line up to the pivot high. And you see I've got a 618 fib retrace that's coming in right at these pivot lows back in March of 2009 and right at the pivot high right here in February of this year.

And so guys, this area 618 78449 or 784 and449. Should we have continued selling tomorrow, we're likely due for a technical bounce should we pierce this level. A bounce that could take us right back up to this 50% retrace area at $863.

But massive sell there on GEV with an oversold status on the bottom of that RSI channel.