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Assessment: Market internals were very weak yesterday and price followed. The bulls vanished and the only thing keeping SPY up was the 50 day moving average. The bulls secured it again last week while the bears were on vacation, but the bears are back in town and they seem to be smacking the bulls around!
We will see how today goes, but the line is drawn, a break and close below the 50 day moving average, without a recovery the next day will likely see a serious acceleration is selling.
Good luck in your trades!