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Uptrend Clearly Broken

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Well, I was watching with great interest last night as the /ES kept inching down. I woke up at 4 this morning and was delighted to see things were much lower, with the /ES presently down about 16 and the Euro getting hammered. This is a morning when it's nice not to have so-called "insurance." I am 170% short.

So the crucial support level of 1103.50 is being banged against, now that the ascending trendline is shattered. It'll be interesting to see what the International Trade figure does at 8:30 EST.

0811-es