Market Drop Needs Follow Through

The sell-off yesterday breached minor support and now we need to breach the 50-day MA to start taking bearish swing trades.

PRE-OPEN MARKET COMMENTS WEDNESDAY - Yesterday the market gapped down and it drifted lower the entire day on good volume. VIX/VXX rallied and that provided a "tell" that we were in a bearish trend day. Minor horizontal support at SPY $555 was breached. The SPY is within striking distance of the 50-day MA and QQQ is within striking distance of the 100-day MA.

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