Unheard of, right? Price and internals have been on a defined downward trending path during the morning session. However, I will note the tremendous relative volume spike just under SPY S2. This roughly corresponds with the top of the Summer trading range and the twenty-day moving average. I’ll be surprised if say $113.20 doesn’t therefore act as strong initial support. Otherwise, next daily support is at the 200-day just over $112.
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