On the SPX daily chart, we can see that the pair is breaking below the 200 SMA (blue line) 2600 level and is opening the possibility for extending the downside all the way to 2300-2400 zone. This clear daily close below this level is significant also because it is the first one after the July 2016.
Note: look for the short trade entries with the stop loss above the 2600 level.
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