Last time the S&P 500 opened at the high and closed at the low of the day was over two years ago (11/23/11)
S&P DAILY CHART
THE BIG QUESTION
WHAT IF THERE IS A DEEPER CORRECTION?
S&P 500 WEEKLY CHART
DEEPER CORRECTION
STILL IN BREAK OUT BULL MARKET
THE BIG QUESTION?
SUMMARY
ON MONDAY S&P HIT 1775 AND YESTERDAY MANGED TO GIVE A BOUNCE BACK TO 1792
TAKE ONE LEVELS AT AT TIME NOW WE CAN ASSUME S&P WILL TAKE SUPPORT AT 1760-1775 IF ITS BREAK THEN 50 WEEK MOVING AVG AT 1680 WILL ACT AS A VERY STRONG SUPPORT IF THAT TOO IS GONE THEN A DRAMATIC 16% FALL IS ON CARDS WE DON'T KNOW WHAT WILL HAPPEN SO LETS FOCUS ON S&P LEVELS AS ITS A LEADING GLOBAL INDICATOR
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