Market Gives Back Initial Gains Following Weaker-Than-Expected Economic Data

ES has reversed sharply to the downside, giving back all of the post-data gains from its positive reaction to weaker-than-expected economic data. If bad news is good news can't get a lift out of the market, then a BIG yellow caution flag goes up. Perhaps into quarter-end and ahead of a possible Government shutdown, any bout of strength will be used as a "sell-the-news" opportunity until some of the uncertainty is resolved. 

In any case, ES needs to 1) remain above 4300 support to avert a full-fledged retest of yesterday's low at 4277, and 2) needs to climb above key nearest resistance from 4330 to 4346 to gain more powerful technical upside traction... Last is 4310.25...