I have been doing my retail sales school today for a large national dealer of mine so I have not been watching since 9:40 AM. I'm on lunch now so I checked in.

Yesterday I said I thought the PPS would be driven down to a new 52w low but that might initiate a slight short term rise over the next few days. That is what I see happening now.

Yesterday the attempts to drive it down got more aggressive and it did match the 52w low and then rose. My impression was there was more urgency in forcing it down. Why I don't know.

We are hanging right at the mid point of the range today even being up. That is better than most days where it hugs the low, but still bearish. I'll try to watch the action from 3-4 because I think that gives a better view of market sentiment.

I think my comments on LVL II were in line with how I use it. Even a tool that is always wrong is a valuable tool. Recall I said all the loading up on the ASK was a fake to shake shares, so I have been trading in the opposite direction (ie buying).