There was some initial disappointment from the FED minutes, but some traders still believe that the Fed is going to find an excuse for more quantitative easing at some point and that helped them to step up to defend yesterday’s low. Big caps like Apple and Priceline continued to run, while small-caps struggled. Breadth was weak at 2-to-1 negative. Even though, we still have positive seasonality, we have to wonder if the bulls can continue to bring us back from sharp selling in front of the three day weekend.
