BUYERS STORM THE GATE BUT FAIL TO HOLD THE CASTLE

After storming the 2,925/2,935 Equilibrium on Monday, buyers failed to hold the line waiting for reinforcements on Tuesday. By the close, buyers had retreated all the way back to 2,870 on the S&P 500. As a result, the 2,795 daily, weekly and monthly Equilibrium is coming back into focus. However, before we jump to conclusions (or prognostications), there is a smaller Equilibrium at 2,840/2,835 for buyers to make their stand.

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