Posted 9:30 AM ET - From a technical standpoint Yesterday was a Critical juncture. The Market would either confirm a bullish flag formation or it would confirm the downward sloping trendline off of the recent high. The price action turned ugly after comments from a Fed official and the SPY closed below the 100-day MA. This morning the 200-day MA is being challenged. The FOMC minutes will be released this afternoon. These hawkish comments have been circulating since the FOMC meeting a few weeks ago. An accelerated balance sheet run off and the possibility of two consecutive 50 basis point rate …