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The Banks Reversal to the Downside Drags Down the Major Indexes

May 20, 2016

Some of the leaders yesterday had nasty reversals today, leading to a sour mood on Wall Street. The SPX finally broke under major support, but for now the damage is limited. Traders will be getting their cue from the big stocks such as FB, AAPL, NFLX, TSLA, AMZN, and GOOGL to see if this was a false breakdown, or if something more serious is ahead of us.