Low of day

Interesting we stopped at the 1125 number and bounced. Nothing like technicals. That area could provide a significant bounce possibly to the 1132 area.

Opps

1130 broken- 1125 was the last area on this upside that had difficulty breaking through. I guess 1110 is ultimately on the way.

Action

Action is very interesting here - A lot of distribution going on, also remember we have around one week left in the month and if I can recall we started the year around 10580 area. Why am I mentioning this? well because most traders will say January performance is usually a barometer of how the year will go.

1130

Got to hold 1130 as said before- Critical level that must be held.

Below we have 1110 not that we will hit that today but 1130 should provide a puase or some support

What I am seeing

Ok after taking a day of rest to recover from my trip I looked at some charts last night.
Even with the Bank of America this morning I still think we can go to that 1178 are, which was an area I spelled out awhile back. Currently 1134 must hold and most importantly 1130 or we will more than likely test those averages down by 1108/1110 area.
We will see soon enough but it is very interesting trading here but also mish match as we are up one day and down the next and volume is still light.

Lets see what develops here.