Europe Effect

The futures are getting shelled by the weakness in Europe and we have another gap down.  We have reached a price point where demand is being met with supply.  I don't think we've hit the ultimate top of this move, but the market will have a hard time getting above 1150 SPX, but it will also have a hard time getting below 1115 SPX.  Today the first half of the day should remain weak, the 2nd half of the day is really up for grabs, I don't think we'll totally fall apart today since the uptrend has been so strong for 3 weeks.