Buyers Report Absence
No denying who took control today. Buyers will have their work cut out if they are going to regain it. Today's dominant red candlestick will likely see some come back tomorrow, but eating back all of today's losses will be more difficult. The S&P lost over 2%, knocking out 2,045 support and returning all technicals into the red. Volume climbed as distribution. The 200-day MA is now the line on the sand for bulls. The loss is significant and will not be easily recovered.