From a “Monthly/Weekly” standpoint, the 500 index is staring key resistance right in the face!  On the monthly chart, a resistance line drawn from the 1987 high is in play!  Until a breakout takes place, it is these key lines in the sand caused that caused us to harvest/protect capital and see if the bulls can create a breakout. 

My long-term thoughts… Just because the “music is playing, you don’t have to dance to EVERY tune!”

From a very short-term perspective, the long downside wick created yesterday, often leads to higher prices.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past