[/caption] Point of Control for today is 1062 so the bears are clearly in control. 1035.25 is the extreme low we were looking for and is acting as support as seen in two previous swing lows in previous sessions. If we retrace to 1049.75 looking for this to be the short term point of control for the close. Asia set this off with numbers that were adjusted for China reflecting an economic slow down worldwide. Could see some volatility come on as Asia opens at 8:00 EST. Next major support in the 1012 area. Lots of weakness in to the previous swing low on the emini's. Continuation of this downtrend could come later in the session. Watch out for Spain's banking concerns hitting the markets before the open tomorrow. S&P 500 day trading course
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