With the S&P soft again today, we are with 5-6 points of the 200-day moving average. Yesterday we touched the average which was at 886.60 (today it is at 885.05 level) and bounced back to close modestly higher on the day.
A break of those levels and the subsequent chart support below in the 875/880 area would like take a big bite out of the reflation trade.
