10:15 am EDT:  We were bullish only above 991.00, yesterday’s highest value point of control and we got a clear rejection of that level, though early morning lows are providing decent support.  Volatile action so far can make for a difficult day and, with volume above average, we think the early range will break.  We would not be surprised to see a test of the long term 973 point of control and a bounce to test VWAP into lunch, test of lows, with a strong late day close.  In this scenario, 985-986 should contain price right now and begin another down leg.  Above 986.00, and we have to consider that an upside breakout is more likely.  Below 970 and bulls can only hope for a daily close above 973.