Compression Begets Decompression

"It's a bottomless pit, baby. Two and a half miles straight down."
--Catfish DeVries (The Abyss)

First big down day since Brexit sticks out like a sore thumb amidst the recent quiet.

Of course, one day does not a market trend make. But will be watching to see if compression begets decompression.

Technically, support from the multi-month uptrend line is another heavy day away at just under SPX 2100.

position in SPX