 The S&P ETF SPY dropped 0.55% today. Before today, SPY closed above the upper bowl in Japan for two days in a row. SPY is due for a pullback. This past Sunday, OPEC+, announced that they would reduce oil production by 1.16 million barrels per day. The price of WTI crude oil jumped up more than 7% between last Friday and today. When the price of oil goes up, it is likely to drive up inflation, which is a bearish catalyst. Jolt's job openings number was posted today. It came in at 9.931 million versus 10.563 million for the previous month. When job openings decrease, it is another bearish catalyst. With the bowl in Japan showing an overbought condition and with two bearish catalysts on the economic front, it is not surprising that SPY went down today. I sold a few stocks from my portfolio today to lock in my profits. If SPY continues to go down, it will be supported at 407, 404 or 400. I'll be buying long positions again when SPY starts rebounding.