S&P500 has recently lost gains previously made in the months of April and May. News that the Federal Reserve may or may not have another QE program was catching peoples attention and fears of a recession in China also is pushing down commodities. I previously wrote that when the triangle or flag shaped pattern resolved, there would be a notable move. It was a tricky resolution because it looked like the market broke out to the upside, and the bulls were going to, for the 5,444,444,444th time, cause another V shaped move in the stock market. But no, it was a head fake and, Wednesday June 1st was a rare day in the market (people in the market were selling on bad news, after weeks on weeks of bad news, it now matters). And now the bears have the control.
