Earlier this morning the market tried to auction unsuccessfully over the region of the 3 day balance profile.
The move failed and the rejection was even swifter playing out part one of the two likely scenarios mentioned yesterday
As the market groped around the 5476-5487 area to watch mentioned, we saw an OF continuing to be dominantly red, indicating that longs would have to be aggressive in nature at that point.
A probe back to VAL was rejected subsequently and the markets are currently at 5444 down a 100 points from value area high.
