Keep in mind Chaz, that big operators may be selling and buying. For example, if they are accumulating they have to sell some to defend the upper range of their buying zone to keep the price from getting away from them, until they are ready. Of course now a days they can just program computers to look at many inter-market variables, do the math, and make the trades.
They could be defending the lows as they get short but I think not; why get short here?. I think they don't want it to print that lower low today because they're ready to take it up but have to wait on favorable market conditions.
The small caps, IWM, is gunning for that gap back on Aug 2nd and 3rd at 77.65. Not much further to go now.