That's the immediate challenge and then, of course, the psychological level of 11000. Support below at 10700 is the site of both current longs defending positions as well as new longs. 10500 is more solid, longer term support. We are at a pivotal point technically and as earnings reports begin to fade away, the talk will shift to the Fed meeting on May 15th. We shall see in coming sessions.
Small specs are the general trading public with commercials being financial institutions.
Commercials are historically on the correct side of future trend changes while small specs are not. Extreme divergence between each signals a possible market turn in favor of the commercial trader's direction.