…Just Like The Titanic, But It’s Full of Bears!

Bad inflation print, bad retail print.

Market had a Jackie Moon moment just after the data release and is now trying to stabilize.  Ten minutes to open.  Big test today.  Not a buyer.

The S&P500 needs to hold 2612.97, the 23.6 fibo.   If that breaks, then Friday’s S&P low at 2532.69, which is just a few points below the 200-day moving average, is the red line.   If that breaks, look out below.

The massive short position in bond futures may provide some support. 

If you are gonna panic, you gotta do it before everyone else does.

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