Tuesday, June 28, 2016

Follow Thru

So glad we've almost made it
So sad we had to fade it
--Tears for Fears

We indeed got the downside follow thru yesterday with major indexes breaking decisively below intermediate term support.

This morning we're getting a lift out of the gate. While it might provide near-term gratification, would think the bulls would have preferred them opening deep in the hole this am.

Bears with technical proclivities will be prone to use the support-turned-resistance at ~SPX 1035 as a backstop for initiating more downside exposure.

position in SPX

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