After opening with a nice gap to the upside, the market had an early run to 1106, breaking momentarily above the resistance level of the 200 day moving average around 1100, this is the 3rd time in 3 weeks that the market tests that level of resistance, and history has showed us that when a level of support or resistance is tested frequently, at the end it gives up. Unfortunatelly the sellers stepped in around noon time triggering a sell signal at 1104 to short the market for a nice multipoint gain do the downside. The SPX closed red for the day below the 200 day moving average at 1089, but above the downtrend line.
Resistance continues to be the 200 day moving average at 1101 and support around 1040-1050
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