Hold... That... Trendline...

As we warned last night, the S&P 500 has now broken its 50DMA, is testing down to its 100DMA, and is precariously close to the crucial 11-month trendline.


 



 


and bear in mind that this time is different in so much as we did not retrace across the trend channel (orange arrows) as we did in each othe previous dips (green arrows)



 


Today's lows so far are exactly at the trendline...

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