Quote from Lojanica:
We broke lower. Globex plyaers got a headsyart. Gap will try to fill but this is not looking good for bulls. Very unlikely to rallt until support is filled at 1100 range.
Bulls will get their chance to support this sell-off. We'll see if that is today, tomorrow next week or whenever. All we need is a little more bad news and we'll have enough momentum to break through prior lows.
Bad omens:
Oil down nearly $4 approx 5%
10year notes at record low.
This is a deleveraging risk off deflationary sell-off with plenty of fear.