The market drops out of the the gate. An unsuccessful attempt to close the gap puts further pressure on a weakened market and initiates a Sell Signal at 2692.
Strong support is found at the previous support / resistance level at 2680 and the market forms a base for a late afternoon recovery.
A rapid recovery back above 2700 would support the previous bullish projection for a continual grind higher but further weakness below 2690 would likely find the market looking at the previous lows again.
Today we have another scheduled echo high which may add further pressure to a shaky market.
Be prepared for whatever is coming next, and trade with confidence:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.