Minus tick

Yesterday afternoon finally produced some heavy minus tick. It has been a long time now but we did have 16 instances of institutional selling yesterday afternoon. This does help alleviate the short term overbought situation somewhat but we could see additional room to the downside which might produce a capitulation type environment on very high tick reading. We also have a very important breakaway gap down at 1105-1108 on the S&P futures that could fill if we get bad news today so be careful as this market should be very volatile but at the same time we could have a good trading environment. The next support areas are at 1110-1115 and then the gap.