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Much Needed Pullback Consolidation Day

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock market indices were overbought and needed a pullback consolidation and that’s exactly what they got today. The day started out with a little pop to the upside, and within a minute they started to sell off in a perfect 5-wave decline on the Nasdaq 100, taking it from over 4210 at one point down to 4146 at the low. The S&P 500 dropped down from a high of 1930 to 1915. They bounced in the last ten minutes and closed not far off the lows. Net on the day, the Dow was down 40.40 at

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