We talked about the S&P 500 making a kiss of death type retracement on the Facebook page yesterday. Honestly I didn't think it would happen as fast as it did.
The kiss of death retracement is the last rally after breaking a major trendline. In this case it's the intra-day trendline so it won't hold much influence other than the next few days as a swing trade.
Notice how we broke the trendline hard earlier this week and made it all the way back up to the underside of the trendline yesterday. Pretty freakin cool stuff!