Almost there..

Well it was another down day on Friday as price action was very weak. Cumulative ticks finished at -90,000 and volume was extremely heavy (SPY volume was about 40% above the 30 day median level). We have failed to make any meaningful bounce and it is likely we will be retesting the 200 day moving average area soon (around 1250 on the ES). Quants are mixed with some calling for a bounce whilst others are suggesting more downside. More later......