EXCERPT indices broke hard in the morning, slid for most of the session, snapped back late in the session to pare the losses, and definitely broke the short-term trend on the Nasdaq 100 -- price, moving average and trendline support -- but have not done so yet on the S&P 500.
We’ll be looking for a move below the SPX 898-900 level, which held today with a 901.36 low. So, in order to get a confirmation and indicate a top may be in, we’ll have to get some downside follow-through tomorrow.
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