Apple had reduced it’s orders for iPhone 5 parts because of less than expected demand which was weighing heavily on it’s stock pre-market.  A few months ago on anticipation of the iPad mini announcement, the US stock markets rallied.  Thus as I wrote in chat, I was expecting downward pressure on stocks this morning, at least through the first hour or so.  At the cash open, the ES pushed back up towards yesterday’s close (1467.25) and bounced with strong institutional selling creating the first trade opportunity. Continue reading »