Trade Jitter Bug

Wake me up before you go-go
Don't leave me hanging on like a yo-yo
--Wham

After dipping below its 50 day moving avg yesterday, SPX rallied intraday to close just above it. With the SPX once again opening in the hole this am on account of a severe case of the trade jitter bug, we'll see whether the bulls can pull another technical save today.

If not, then intuitive support lies below in tranches. First at 2800 and next at 2700.

We should also note that the further the SPX falls away from its recent all time high, the louder bears will yell that in actuality those highs were necessary to trace out a classic double top.