SPX S1= 2880-82- This level will be pivotal to watch-  *A break below will indicate MUCH lower prices…

SPX S2=2846-48- next level down.

Rates /USD$ both moving aggressively higher today probably not a good combo for MKT here-  throw in EM contagion risk , trade tension, google being split up talk and as an outlier- some sort of banking anomaly black swan event and just NOT a MKT I want to own at this TIME…

Traders /PM’s have been advised over the last few weeks to lower long exposure, raise HIGH levels of cash and be positioned primarily short. The SPX/MKT is up against a ton of quantitative technical resistance from a macro perspective that limits the UP side and substantially raises the R/R profile.

Adam Lorraine-

Technical Analysis Specialist-