Overbought but not done correcting

The S&P 500 is having a tough time getting a bid. We go almost a whole year with no upside and then we get sold off.

These levels look pretty solid but we continue to look for some downside. If today is any indication, we gapped up and held on tight into the close.

It is worth noting the S&P 500 is oversold at these levels, so trading may become little tighter in coming days as more buyers and sellers move into the market

We wrote about SPY, CL1!, and TLT in our market snapshot!

Cheers,

The Enhancing Capital Team