That was real roller coaster today. The market moved right into trend line resistance and immediately sold off. More disturbing for the bulls, the small caps finished negative for the day. Not exactly the kind of reaction one would hope for with such bullish ISM manufacturing data this morning. Now, the SPX must hold 1387 or risk a much bigger downside. We’re still a fair way above it so that’s not a big concern yet. To the upside, 1420-1430 looms as big resistance.