QE Crowd or Volatility shakeout move?

 Since the break of support came before the PMI data, unless it was... you know what, and volume was large before the PMI, this looks like a shakeout of early day trader/momentum shorts being shaken out.

There's a small positive divergence right under support, I'm sure the QE crowd isn't hurting either right now, lets see if this divergence goes anywhere on  pullback or just tries to head for the gap.