Today is an important day...

Important support is going to be tested this morning...Europe is trading -2.3%...

Two levels to watch are 2050 for the S&P 500 and $60 for the XLEs...the Energy Sector ETF...how the markets handle this important levels can give some early guidance into whether we are about to see a trend change or a consolidation.

2050 was important support last year from February through August for the SPX, and $60 was important support in August, September, and December for the XLEs.

 

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