This morning's early weakness made it look like a 20-30 point break had started. But there was no follow through. Instead the market reversed and rallied to new highs for the day, albeit on low volume.
This shows there are still a lot of willing buyers below the market and that sellers don't have much conviction. So I think we shall now see a swing up to 1212 or so before another reaction develops.If this prognosis is correct then support near 1188 will hold.