Triple Bottom Breakdown

We chased our pleasures here
Dug our treasures there
But can't you still recall
The time we cried
Break on through to the other side
--The Doors

Took nearly a week, but today's nasty intra-day action suggests that the triple bottoms appear to be history on the major indexes. One could argue that there could be some right around here at SPX 2550.

Not much below that but tree branches  hanging from cliffs for a while. Next meaningful support from where I sit appears to be SPX 2100. This level was defined by the Trump election rally way back in November 2016.

Personally, and perhaps ironically, I suspect that is where the Fed gets cold feet if/when.

no positions