SPX update

Once again a stick save has prevented the SNP500 from violating the support line extending from 2009. This therefore can be deemed as a very important psychological trading level. If breakdown occurs below this trend line & doesn’t recover, it can be seen as very negative for overall risk assets. Permabulls will see this support as good time to go long again. To me its too early to tell if its all in time. Short term overhead resistance is 1375-1380 IMO. Disclosure: Im long Apple short term & looking to sell into strength.


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