the Morgan Stanley report lowering the global growth forecast to 3.9%
has renewed fears of a euro crisis and the knock on effects to earnings in the US.

the downward time pressures remain in place thru thankgiving.
trade pressures are turning up.

the daily has triggered a short entry to 1075 which is a retest of the recent lows.
a move up thru 1163 would signal a restart of the move up to 1260.

1131 is the intraday downside target, so some pause is likely here.