After gapping up ten points at the open, the S&P 500 Index (SPX) has since given up the gains and turned negative on the day. As of 11:30am EST, the SPX was down three points, dropping below the lower end of the gap (2632). The next area of near-term support on the chart is between the 50-day moving average at 2619 and yesterday’s session low of 2617.
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