Bye-bye “critical” support

The S&P vomited into the open and aghast mouths of longs today.  Uffa.  That chart’s not bullish at all.  We’ll see what happens tomorrow, but it turns out this wasn’t a buy-the-dip opportunity (unless it was gold or precious metals-related).  A few more weeks of this and we should be getting a QE3 announcement.

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