by Mike ‘Mish’ Shedlock
A look at the technical picture shows support levels and possible bounce points to watch on each of the indexes.
The S&P 500 is right on support.
Technically, one would expect a bounce here. But to where is hard to say. This is a severely stressed chart and a recession is here.
Also, the bond market is still dislocated. Today the Fed announced more Repos and stocks decline 12%.