After a brief gap fill, equities put in an apparent lower high, then ran straight for their respective five-day moving averages (SPY $124.30), which now look poised to break. That said, volume is coming out of the move and perhaps the majors can find natural support here abouts. I’d put next support at roughly $124 in the event of failure. Note, unsurprisingly, it is the foreign stocks that are really taking it on the chin.
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