The good news is the S&P 500 finally hit an air pocket yesterday though it was slow getting started. The bad news is that it is not yet a clean break lower out of the up trend from mid November and thus need to give it a chance to bounce today. Ideally we get a lower high form against 2662 or 2669 SPX later today or on Monday. If not, you know the drill, SPX will inch toward the top of the channel that has been pointed out yesterday.

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