The weaker than expect manufacturing and house reports drove the US market to continue to drop this morning. Now, $SPX is testing its daily 20EMA/20MA. The daily 20EMA/20MA may provide temperary support to $SPX. The worse senario is that $SPX will not bounce until it drops to 1035 to 1037, which is the last breakout point.
SMH dropped below its daily 20MA/20EMA and semi-intermediate uptrend line.
FAS dropped below its 20MA/20EMA and is testing its semi-intermediate uptrend line.
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