The market opened lower and quickly found terra firma, then it slipped lower after the Dallas Fed report. 

As bad as the numbers were, there were positives, including:

• Prices for raw materials 34 from 38.4
• Prices received holding up 26.8 from 29.3

Employment numbers were encouraging as well, but it was the responses that triggered selling:

Dallas Fed respondent: "The Biden administration, Congress and the Federal Reserve are on a negative path for the economy."

Dallas Fed respondent: “We see particular stress in our highest-end products, notably our organic beef sausage, as consumers trade down.”

Even with that second slip, the market found its footing and is holding up pretty well. I'm very encouraged.