Coming up against SLs and SPs from April. Maybe not today, but soon. Be aware of them. Just zoom out to include April and you'll see what I'm referring to.
A potential hinge on the daily, with the emphasis on the potential: http://www.elitetrader.com/vb/showthread.php?s=&postid=511606#post511606 The bulls aren't doing their part given the limp-wristed movements of the last three days. Volume is not encouraging and we're near the supply line. Given the gap down toward the PDL, look for -- but don't depend on -- R at the PDH. though we may also be looking at a gap trap. And don't forget the ISM at 1000.
I should also point out the congestion at 1465 and 1120. This is what "pivot" is all about (just zoom out a couple of days).