Technical Trouble

A little frightening

We do not have a high conviction bearish stance on the market currently. If anything it feels like a "wait & see" or "every other day" type of market. Fear is still stubbornly high but there are also mitigating factors like buybacks, seasonality and pockets of de-risked fast money. However, the technical picture right here right now after today's move looks a little frightening.

1- Breaking down