When I was looking at next support just above $117.50 in the event of a failure to bounce, I was hardly expecting price to tag that in a single day. The market is extremely short-term oversold with a SPY RSI-2 reading of 1.61 on this all class dump. Price is just about at the “flash crash” rebound level. We are retesting the am lows just now… internals remain awful, but it’s tempting to start legging back in.
Here is a terrific interactive table posted in the room today, “Asset Returns Since QE2 Hints” by Reuters.
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