Today is just another Trap..
After a 3 week bashing on longs, shorts lift the hammer this morning but I don't expect it will be for long before the hammer comes crashing back down on long holders.
The economic data is just getting weaker and weaker. Even prior economic data is being revised lower.
First batch of Economic data in Sept. came out at 8:15am today and its not pretty:08:15 ECONX July ADP Employment Change Revision +37K, prior +42K 08:15 ECONX August ADP Employment Change -10K vs +13K est.