Good morning traders. Market sold off sharply yesterday right after the open of trading. Like I said yesterday,  I would not be looking for longs in the market unless we saw the gap holding over SPY116.25. Looking at the bigger picture of the market we are consolidating in a range above the previous range. In terms of an upside breakout I will be watching 116.30 Trade above this which holds should be bought. On the downside, SPY 115 should be watched at important support. Trade under this price should lead to SPY113.80 quickly.

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SPY Levels
117.70
116.25
115.60
115.20
113.80