Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Today’s selloff is like pulling off a bandaid slowly – it is happening very gradually as very obvious support levels beckon below. All eyes are on 1380 – the 200 day moving average – which makes it seem too obvious but a level to be aware of. At this point the SPX is flirting with yesterday’s lows.
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