Please enable javascript in your browser to view this site!

S&P pullback testing key Triangle support following ECB

Almost 90 mins in.. S&P has pulled back to retest and arguably break an important trend that has guided the last few days on the downside as Triangle Support-  UNDER 2126 would be more confirmation, and would lead to acceleration down to test and break lows at 2107-  (2114.7 SPX cash ) Early gains in EURUSD, TNX on initial Draghi comment were reversed quickly after these remarks were clarified & said Tapering was not at all discussed and that nothing abruptly would be done.  HUGE reversal back down to new lows for the Euro vs USD-  Dollar index up nearly Half a penny now, particularly vs Aussie Dollar, Yen, while up around .43% vs Euro-   While Telecomm is leading to the downside, we are seeing meaningful Energy weakness also to the tune of -.90%..  Tech, Materials and Discretionary all down 0.50% with Breadth about -2.5/1 negative- So the Net-Net of today vs yesterday at present is a lot more negative given that prices yesterday failed to get up above last Friday's highs, while today is pulling back to violate a minor area of support of the last few days, only 90 mins in