As you saw yesterday, the bulls did not have any trouble reiterating the fact that they are still in control as the markets reached the highs that we saw last week.
This morning the markets are gapping down lower. On the SPY, it looks like we are going to open right around the $114.20 support/resistance level. I would play this the same as yesterday... Buy into any advances above $114.20-$114.30... Sell into any declines below $114-$114.20.
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