It appears the $SPDR S&P 500 ETF Trust(SPY)$ SPY is down because the FED speakers are acting hawkish again pushing the bond market back up again (this sends the SPY go down since they are inversely related).
The bond auction last night didn't have very much demand and today there is one 1pm EST for the 7-yr.
I think the market is going to want to fight above this $526 to stay above it towards $530 again.
Support after $526 is Thurs and Friday I am expecting bigger moves is $524.
I'd be cautious the market is forming a diamond shaping pattern which historically has been bearish leading to a sell off. I think we find out on Friday where this market wants to go for PCE:
$S&P 500(.SPX)$ $NASDAQ(.IXIC)$ $DJIA(.DJI)$
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