SPY Breaks 200 DMA As ES Set To Test Support; Stocks Drop On Volume Pick Up
A sudden drop in the EUR takes stocks down. No immediate catalyst, and the Schapiro-Gensler cabal sure hasn't said anything to make the market nervous. Which means it is a charting astrology and technicals: the 200 DMA in the SPY has been breached, leading to a 5th consecutive onslaught at the DMA in the much more critical ES. Should this break, watch out below.
ES: Above 200 DMA
SPY: below 200 DMA