S&P 500 Daily Market Forecast

The S&P 500 came down hard yesterday blowing through short and medium term support before stopping at around 2784.25. The ES Pullback strategy hit its stop loss. This is why it has an 80% success rate. 80% is not 100% and at times it will take a loss. The S&P 500 is now about 5% from bear market territory indicated by the purple line in the chart below. We now wait for this move to be done with and for the next pullback opportunity to present itself. For more about the Quantopolis bear market indicator and strategies please visit quantopolis.com .