The S&P 500 has no realistic fundamental support for today’s historically extreme valuations. So when technical trading levels are retested, speculators and QE-proponents hold their breath and hope for one more bounce…One of these times, they are likely to be devastatingly disappointed.
Will Fed minutes save the SP500 from breaking short term support? pic.twitter.com/RwUKAERjjc
— Cory Venable CMT (@CoryLVenable) May 18, 2016