Posted 9:30 AM ET - We are still up one day and down the next. The volume is light and the intraday action is very choppy. China is rapidly reopening and that is a good sign. Australia raised rates and the ECB is expected to. The FOMC meeting starts in a week. We have CPI on Fri. Rising interest rates will create some nervous jitters. If we zoom out to a weekly chart we can see an acceleration in selling pressure. I suspect that the move last week was short covering and we need to watch the half way point of …