S&P (DJIA and Nasdaq) broke down deadly after its two month regression trend lines. Specifically, island reversal is fatal to its bias change from bullish to bearish. Gap-down also made it hard to repair. High volume will mark today as a major distribution day.
20 DMA cannot handle it. So, S&P may keep going lower at least to 50 DMA to find its support.
20 DMA cannot handle it. So, S&P may keep going lower at least to 50 DMA to find its support.