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Weakness in SPX Inflicts Some Technical Damage

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Let's notice that today's action in the cash SPX has sliced beneath its nearest-term support line at 2023, and has pressed to a new reaction low beneath the Dec 14 pullback low at 1993.26, the net result of which has inflicted meaningful, near-term damage within a larger- developing, multi-year top formation. More to the point, however, is whether or not SPX: 1) can or will recover during today's PM session, and, if not, 2) will the selling pressure extend into Tuesday's session? If the

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