Trump’s decision to table stimulus talk knocked stocks for a loop and will likely keep pressure on the market at a time when seasonality would be working against it to begin with.  We’ll have a better idea of whether the insanely ebullient mood on Wall Street has dimmed once we’ve seen how the pattern shown in the chart plays out. It is a pretty good specimen of ‘mechanical’ buy, meaning anyone who got long at the green line on Tuesday afternoon should make money via a snap-back rally to at least p=3369.50.  If the trade instead gets stopped out at 3291.25, that would imply the structure of The Rally That Wouldn’t Die may have been compromised. If so, the futures will soon find themselves groping for traction all the way down to 3200, where important lows were carved out two weeks ago.