$118.55 is a magnet

SPY $118.55, we can go above it, but we can never deviate too far from it.

It seems that each time the market gaps higher on the day and looks poised for a rally, it sells off toward the $118.55 by the end of the day.

And as expected, a sell-off today would be met with the Fed. The Fed comes in, buys up the market during the last hour of the trading session to close the market green. In time for elections.