Break of High of the Low Day?

2:20 ET - SPX makes slightly lower low on Monday so today is the new low day...Dave will be on a cruise for the balance of the week, so look for our next post on Friday during the trading day. Follow your rules...buy when you're supposed to buy and sell when you're supposed to sell and you should be fine. Beliefs, Skills, Discipline. You're a Great Trader because you apply the skills of a Great Trader every single day! 11:38 ET - This morning illustrates once again what we have taught on many occaisons...the pre-market futures give no insight as to what the trading day will be, only what the open is likely to be for the day. Pre-market futures were up and as soon as the cash opened the futures sold off and the market is down this morning. Apparently, much of the selloff is occurring basic materials like steels SCHN, NUE, X and STLD which are down more than 5%. If markets don't break the high of the low day, maybe Monday will be a new low day. 9:52 ET - The SPX +2 and Nasdq -6 are below the futures pre-market trading...as soon as the cash markets opened futures sold off...stay tuned for an interesting an potential support bounce. BMO - About 20 minutes before the open the SPX +8 and Nasdaq +8 futures are up from Friday's close. Watch for the break of the high of the low day and a support bounce on Monday. Looks like soup is MMM...MMM Good and GPS has lost its way on Monday morning BMO releases. Earnings BMO - CPB .0.65 beat +0.64 GRMN +0.93 below +0.98