S&P 500: Floor Breach, Breach, Breach
S&P 500 Futures are picking up speed to the downside on rising volume which takes it back to its 50DMA (as we note AAPL has also broken its 50DMA intraday now). Has the market finally grasped that in order for the Fed to greenlight QE stocks have.to.drop and that frontrunning QE by constantly buying stocks ahead of the ramp simply will not work? We'll know soon enough.
Click for much larger image...
S&P 500- e-mini futures breaking through support and trendlines
but for now, the sell-off has stalled and needs more broad-based risk asset selling to continue...
Chart: Capital Context
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