A minor opening bounce was decisively sold, and the market closed near the lows of the day, crushing our three-day bounce. Volume was a bit lighter, but we have another lower high forming after testing the break down area of last week’s FOMC sell off. This has to be worrisome for the bulls with a potentially weak GDP report and the German bailout vote tomorrow. If we get a gap down, weekend risks and the August low will be preoccupying the thoughts of traders.
