A pretty interesting day so far, I guess you could almost say 'better than expected'. European markets were actually getting sucked lower by the Chicago PMI data before they closed. US markets showing the first sign of weakness after four annoying upward days.
Even if a new down trend is beginning, an intra-day back-test of the 10MA @ sp'1400, would be very natural.
Clearly, 'serious money' shorts would have a short-stop around previous 1405 high..or loose 1410/15.
More across the afternoon.