The sizable opening gap higher closed for a retest of yesterday's lows on a swift reaction to the Spain downgrade just as the SPY tagged its daily pivot. However, in spite of the noisy trade, internals continue to warrant a positive outlook into the afternoon session. Be sure to check back for the fastest Fed statement markup comparison on the web later in the day! Meanwhile, keep an eye on the pivot for the SPY and the respective VWAPs for the QQQQ and IWM.
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