Heading into Tuesday's afternoon session, oil took the spotlight, shedding 4.7% from Tuesday morning's 4-week recovery-rally high at $38.39 -- pointing lower still toward the $36.00-$35.50 support zone.
Meanwhile, the Emini S&P 500 was feeling the pressure, too, but unlike oil, it had not sustained serious technical damage to its 4-week uptrend. At least not yet.
To do so, ES will have to break and sustain below 1975.00, which will trigger lower projections to 1950/45 (quickly).
