This Is A Bearish Market Pattern

We have a lower high double top and the SPY is back below key support at $445.

PRE-OPEN MARKET COMMENTS THURSDAY – You can interpret the headlines anyway you want. Good news is bad news or bad news is good news. The fact remains that buyers and sellers are engaged and we are seeing two-side price action. Regardless of which way we go, it is going to be a VERY bumpy ride. That makes for very tough trading conditions. Right now, sellers have the ball.

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