S&P One Good Turn Deserves Another
Given everything that is going on, lets take that aside for a moment and look at the technicals. The market has moved from one extreme to another. We're now at an equilibrium point of sort. 50% retracement. To get here we had to break thru initial resistance back at around 2595. Price action and momentum now in the last 3 days showing signs of weakness. We did come along way from the bottom very quickly already. Now add to the equation everything that is going on. This is still bearish for me.
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