The S&P 500 opened down at yesterday’s lows to tag its 50-day moving average for the second day in a row. Internals remain quite weak, although a positive VWAP has held for the majority of the session. Note the original summer range Fibonacci level just under SPY $116 as next prospective support should this fail.

Related posts:

  1. 10.04.10 – Down Monday?
  2. 01.05.09 – Intraday Double Top?
  3. 12.10.08 – Characteristic Trend Day?
  4. 05.27.09 – Consolidation Trade
  5. 09.03.10 – Uptrend Intact, Pushing Overbought