OK so it broke to the down side

from the NR7. This is disappointing but the fact. The market started selling even before the ISM data was released. If you look at it closely the ISM data has improved although still indicates contraction but GDP data was revised to the upside. So inflation must still be the concern. But what can the market do about it. Sell till inflation comes down? At this point, it is not convincing that June will be a down month. There may be a few more days of selling but weekly data shows very oversold. Tomorrow's numbers are 637, 634 and 629.

2c