Next SPX Stops: 1,013 And 951
The 80 DMA was broken today and the temporary base at 1,080 was penetrated without much foreplay. Next up: 1,072 support at the 200 DMA and 951 and the 300 DMA. For purists, 950 is also the VWAP since the market lows. Consider it payback for the low-volume ramp higher. Lastly, the 23.6 Fib retracement is at 1036 while the 38.2 is at 986, which is also close to the first half peak, after which the market just went bananas.