Pretty bad 2 days for the spoos – SPY

This is not a good earnings season reaction, but it is just off the highs.  50 day simple moving average could be in play at 123.57.  Looks like we just bounced off the 20 day within .02 cents at 127.11.  If we have seen the highs (which is VERY difficult to predict), big boys will bounce the market to unload inventory.  The bounce could be long term shortable (ie. 1-3 months+).

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