That was me this morning attempting to buy the dip... lol. After my stops were hit, it was pretty obvious what was behind me (a big train full of sellers). Long setups failed on almost every timeframe... which is something that's noteworthy. Today was basically the opposite of what we saw during the first few months of the year. When momentum builds in a particular direction, it pays not to fight it (I know... duh). We are working our way into the lows from April in S&P futures - 1352.50 is the low to watch next week. I'm going to post some charts in the comments - and still need to dig through the latest COT reports from today to see if there are any notable changes.