I mentioned the danger of an afternoon “trap door” yesterday and it came to pass with a vengeance. No buying at all…as evidenced by the flatline NYAD (orange line). What was surprising was that the NYAD didn’t crash down to .05 levels at the close. The NYAD opened at 20 today…a level obviously unsustainable that is typically resolved within the first 15 minutes but, once again the trap door opened and dropped us to yesterday’s low over the next 90 minutes. At the noon hour most of the majors are riding the PP pivot and although the DOW is up 105 points and the NYAD is at 2.74 there’s no clear indication that the pm session will close in the green.