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Terror Attack and Overbought Condition Do Not Reverse U.S. Equity Advance

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Looks like it took a terrorist attack to dislodge some longs from their positions overnight. That said, let's notice that the weakness has not inflicted any damage to the dominant uptrend. To do so, ES (Emini S&P 500) must break and sustain below 2020.25, which will argue for the pattern to roll down to 20.00. Otherwise, the bulls will remain in directional control.

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