Since the markets were closed yesterday for Memorial Day, there isn't much for us to update technically from this past weekend's missive.
However, I did provide an update yesterday for our RIAPRO subscribers with respect to where the S&P 500 is currently trading and why we expect a short-term bounce. To wit:
As noted previously, SPY tested, and failed, at the bottom of the uptrend line from both the 2017 post-election bounce and the 2016 lows.
SPY has now corrected the overbought condition and is testing support from the January highs with the 200-dma close