First let me apologize for a few inconsistencies in this morning’s commentary. RG had sent me his thoughts on the broad market which I integrated into the commentary at the last minute and in my rush to publish I did not realize his key levels were slightly different than mine. As it turns out, the market sliced right through the support levels with only small pauses. The conservative second pushes we wanted for the setups did not happen until the 1075.75 area (the last level on my list, LOL). The 1075.75 was close to to setting up for a big lots trade, unfortunately it did not happen. A little more institutional buying would have green lighted the trade. We had a no trade day. I marked the trade setup we were stalking in the chart below.
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