As we were pointing out at the Market internals update when ES was around 1021, there were a high risk of penetrating 1016 and then continue to the down side. Finally 1013 provided support and I believe the strong EURUSD reversal together with a weakening JPY put the ending for the selloff. The close was stronger than I expected in terms of price but increasing NYSE down-volume during last 15 mins makes AH rise less likely. In my eyes there is still a remote possibility of a sizable gap down tomorrow bt even if it occurs, remember is 1st day of month (higher probabilities of a green day) and we are due for a pullback to the upside.
GL
