Inside day expected for Thursday's S&P 500 market action

All indications are that the market was buying the break in the S&P 500. If indeed this is the case, you would expect to see an inside day for Thursday's action. If we do trade lower than yesterday's low 4345 would be the next objective to the downside. I still feel the overall economic outlook is positive and this is 1 of the reasons why I don't look for a dramatic move to the downside. It will take new news to create a downside movement.