Gappy New Year

It's not in the way that you hold me
It's not in the way you say you care
--Toto

Gap down sell off on first trading day of new year with domestic markets down over 2% earlier today. Motivation? Perhaps partly due to big declines in Chinese stocks overnight that resulted in market halts.

SPX has probed below the 2000 Maginot once again and regained it for now. Let's see if Hoofy's Heroes can keep 'em on the right side of the tracks.

position in SPX