As I posted in chat, I expected the overnight low to be tested at some point today, thus I was looking for selling between 12 and 16.  Selling came in lower than I would like, but there was enough room to the overnight low for small target models.  I didn’t expect the 9:45am Chicago PMI numbers to impact the markets, but it turns out they came in negative which was enough to kick start the markets down. Continue reading »