Looking at the 60 Minute Chart for the S&P 500 Index, the market again stalled near the 50% correction level.
The NYSE Advance - Decline Line showing a negative divergence as the ES Futures was making a higher high around 1205 ET.
Both the 15 SPDR Stock Stochastic and 8 SPDR Sector Stochastic were also showing a divergence as the Futures was making a higher high.
And, the $TICK was making lower highs as the Futures was making higher highs.
The fact that the market reversed where it did is not the surprise; I guess that I'm a little surprised at the magnitude of the intra-day reversal.
Charles
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