Red Heat

The shadow's high
On the darker side
Behind those doors
It's a wilder ride
--Glenn Frey

Ugly day with markets closing on their lows. SPX down 2% with COMP down 2.5%. Most indexes now red on the year.

With 200 day moving avg now in the rear view mirror, some are wondering whether the trading robots might turn their hats around and chase weakness rather than strength. Meanwhile, nearby technical levels suggest that if current 2030ish doesn't hold, then next support rests below at 1990ish.

Oscillators are still midrange, suggesting some 'potential energy' behind the downside.

position in SPX