It would have been a massive surprise to me if we did see movement today. It is always like this before a holiday.
Just below 10228 on BIG SCALE (Feynman LB on http://www.elitetrader.com/vb/showthread.php?threadid=33331): it is above this point that they will talk about bullishness again. You can see the next ones at 10250/10255 and 10321 (just before the CROSSING of the two lines that is to say a turning point). Volatility normally slows down for consolidation below important zone.
I always trade on "Holiday" days. Remember July 5th, 2002? I made over $18,000 that day. I think the market was up over 300 pts on a half day of trading.
Yesterday's model forecast for today projected exactly 10321 as break zone. It was truncated by Feynman-like effect at 10303 theorically (in real top = 10302). Remark the bottom today is just 10228 the Feynman Local Bottom mentioned below on big scale. P.S.: Feyman-like effect if you want to laugh it's here http://www.elitetrader.com/vb/showt...rpage=6&highlight=feynman effect&pagenumber=1 <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=514251>