SPX: Still Bullish
It will take a weekly close below 1118.50 to put the bears in control of the market. A quick reversal of today's decline will be very bullish and will lead to a new bull run to the 1200 area.
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Permalink Reply by Steven Vincent on
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You could choose to look at the SPX off the July bottom as a rising wedge pattern that has just broken out to the upside. Will the Intel (and potentially JPM) earnings spark a run?
The potential upper boundary of the blue trend channel projects to the 1200 area.
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