Today was the largest Sell On Strength day I can ever remember seeing. I would guess it is in the top 5 for sure in the bull market. That does not historically preclude SPX from rising 1-2%, but it almost always returns to where it started within days and more often falls from where the SOS occurred. Given how stocks have somewhat triangulated higher with key moving averages in tight proximity and all the long-term negative signals I raised recently, SPX is likely to suffer a rapid collapse into mid-August unless it can somehow defy gravity while near its flight apex. Good fortune.
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