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.
badly as expected.