On a technical basis people watching 1094 and then 1090 on the downside while the 200day MA on the upside is important $SPX

· On a technical basis, people watching 1094 and then 1090 on the downside while the 200day MA on the upside is important (1104).  The inability of the market to string together two consecutive green sessions is being taken as a negative (the market hasn’t been higher for two consecutive days since 4/28-29).  Correlations remain high - Financials, industrials, discretionary, energy, materials, tech all off 1%.  Combination of buyer exhaustion (following yesterday’s rally) and some profit taking ahead of a long weekend weighing.