The S&P has been butting its head up against a nasty and untalked about trend-line just overhead, and what you are seeing today, is the total rejection of the bulls to move past it. By the way, the selling we are seeing is just lovely…but I can’t help but take it with a grain of salt until we see what kind of shenanigans the Fed’s will pull out of their hat around the 3pm hour.

Here’s the Silent Resistance Level.