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Extending Late Session Lows

US STOCKS
No obvious headline driver for stocks leaking lower, new April lows, SPX EMINIs are making new lows for the month at 4077.25 and through technical support of 4086.99, the 50-Day EMA. A clear break of this average would highlight a top and expose 4061.11, a Fibonacci retracement.
  • The next two significant support levels are 4052.50 (Low Mar 30) and 4018.75 (50.0% retracement of the Mar 13 - Apr 18 bull leg).
  • Bank headlines have had an untoward effect on indexes today, but nothing obvious on the latest move as Utilities, Industrials, Health Care and Energy sectors underperform.
  • No positive reaction to a procedural headline regarding the debt ceiling bill: Republican Debt Ceiling Bill Advances In US House Toward Debate, Possible Vote On Passage.

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