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The Market was limit down. For a full explanation of how the floating
limits work in stock index futures go here:
http://www.cme.com/news/01-42limits.html
>
> At 12:09 PST, the ES1M was retesting a local bottom tested 3
> times about 40
> minutes previously. I was watching the bid and ask size closely(1st time
> I'd done this) and saw this interesting situation: the bid and ask prices
> stayed at 1224.00 for a good part of a 5 minute period, the bid price
> especially did not budge from 1224.00. At the same time the ask
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