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Very Strong Session for the Indices

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock market indices had a rip-roaring rally today off of oversold conditions. First, however, they dipped to the lows, the Nasdaq 100 getting down to 4143, and then exploded within less than an hour to 4245, more than 100 points. The S&P 500 went from 1879 to 1919. They then backed off in a Fibonacci retracement, held the moving averages, and then took off in a 5-wave advance in the afternoon at a slower pace, but, nevertheless, steady, and reaching 4308 on the Nasdaq 100, about 185

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