The indices are in the process of the Bungee Jump that I earlier suggested might occur. In the ES, initial support is 155450-155250, then today’s low. I don’t think the ES will blow through 1565-1571 without effort. Specifically I would look for a two-sided market to develop for at least several hours even if the ES is going to eventually trade above that level. A close below 155250 cautions that 154275 may be tested sooner rather than later.
Breadth is “ok” at the moment and there is 30-minutes of cash market trading left that will affect its final reading. We’ll update this later tonight or early tomorrow morning.
I’m traveling this afternoon so there will not be a recorded DBSA. Check the Member’s Blog for updates.