Home > Financial Ponzi > SPY hits critical support

SPY hits critical support

Wow.  That was fast.  Now the rubber REALLY meets the road.  Big test at hand for the S&P.

2014-10-01-SPY_CHARTS

**Update 10/2: It’s worth noting that Small caps (IWM) and VIX inverse (XIV) are significantly outperforming S&P today – the same action that has occurred at recent bottoms.  They have led the way both up and down in each of the last 4-5 short term changes in market direction.  End-of-week and early-next-week should provide confirmation of (short term, at least) bottom, if that’s what is forming here.

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