Below is a graph of the S&P 500, the 200 day-ma is currently at 2072, the 50 day-ma at 2054, the 20 day-ma at 1999 and the current price is roughly 1965, which is nicely off the low of 1860. The big picture on the technicals of the market, as we see it, is the trend has changed, at least for now, to negative or downward. Most technicians are expecting a retest of the low of 1860. We would note that September is historically not a friendly month for stocks, and we will likely have an increase in interest rates by the Federal Reserve on September 16th. We view the recent volatility as a battle between the bears and the bulls, but the bears have home field advantage.

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Market in a Minute 2015-9-9