Not long ago, a ‘nothing day’ on Wall Street implied that the Dow Industrials had wafted as much as 100 points higher. Now, the opposite seems true: On days when interest in the market is practically nil, the Dow can fall by as much as 100 points. Yesterday’s airless tedium brought the latter, in the form of an 86-point decline. To call it weakness, however, would be misleading, since even a weakly bullish news headline would probably have reversed the flow and pushed the broad averages at least moderately higher. Bottom line: Don’t pay any mind to Monday’s punk performance when you switch on your monitor Tuesday morning. _______ UPDATE (8:26 a.m. EDT): DaBoyz had to take the E-Mini S&Ps down 18 points overnight — the equivalent of 150 Dow points — in order to exhaust sellers. An hour before the opening they were trying to cash in on this set-up with the usual short-squeeze but having little success. If sellers prevail today and the E-Minis, currently trading for 2085.75, take out the pre-dawn low at 2079.25, look for more downside to at least 2055.50, or 2050.75 if any lower.
