Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Yesterday’s very sharp move up has been 100% reversed this morning as the Tuesday gap up just filled. And with that dip buyers finally are being punished. Once again the S&P 500 is at this major trendline support. The more times you beat on a line like this, the more apt it is to finally break. We’ll see when/if it does.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
