Update

So yesterday I mentioned the 1417 level for the bulls and we failed to reach that level in the regular trading hours but as usual in these days of computer generated trading we did hit that 1417 in the overnight session! This is what has been happening for the last few years and that's why it is difficult for the average trader to make money because the big guys use quants and execute trades in the overnight sessions. Anyways since we tested that level overnight and rejected it we now have to look at a test of yesterday's lows and see if they hold. If we don't hold them and bounce that would signal a deeper correction to come. level to watch on the low side is 1404