The indices are in a critical state with the TF having printed a new low and the others holding up, though not by a lot in the YM/Dow. This sets up a Market Condition conducive to a very sharp move. Watch breadth. It should begin to contract rather dramatically if the indices are about to accelerate lower. On the other hand, if it cannot contract a very sharp rally is very likely to occur. If the indices close near their lows it is going to come down to the Globex session in which case Breadth is not going to help as a “tell” .
