Price Action In The S&P & Its 200-day MA

That was easy.

Only second close below the 200-day (2765ish) for the S&P since January 2016.   The 200-day has been steel support for the S&P500, and a trampoline for reversal rallies over the past few years.   Not today.

Is this a bear trap?  Don’t think so, has more downside, in our opinion.  Stops at 2770.

Key earnings out of JP MO tomorrow.

Bonds behaving badly as expected.

This entry was posted in Equities, Uncategorized and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s