PRE MARKET LOOK

Looks like the lower highs on the MACD Histogram finally kicked in to actually mean something as the SPY was down over a buck yesterday. Initial target looks to be the gap up from August 16 at the 129 level or about 15 SPX points lower than yesterday's close.

Futures are pointing lower by 5 as I type so another 50 cents closer to the target.

According to John Carter's book, Thursdays are excellent days to play the gap fill trade and I suspect today may fall in line and if the gap does fill, I will be shorting.