Considering the NY Fed is throwing about 8B at the market today this is already relatively ugly. My suspicion is the market wants to test 2923.75 before attempting to rally higher. That test has been inhibited, or prohibited, by a large hedge fund that used to be a central bank.
Guys - watch-out for the speed today. One of my market orders to buy-to-cover didn't get filled for 1600 ticks/trades this morning. I've never seen that delay before. This was NQ when the market was tanking. Likely all of the bids in the order book near the market were pulled after I went short.