The S&P trades at session lows
The concerns about the Brexit leave gaining momentum, has risk assets – like stocks – feeling some heat. The S&P is down 1.17% now on the day and trading at the session lows. The price has moved below the 100 hour MA at the 2094.32. Looking back at that MA line, the market used the line to lean against it on May 18 and May 20th. On May 24, the MA was broken and the price ran. The move down in the current hour is the first break since that day (see hourly chart below). It is now is trading risk for shorts. The next target is 2084 (38.2%).