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S&P 500 healthy retracement


jbtrader

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chartSP500.png

 

The rise from the lows around 1880 to recent highs near 2120 has been significant.

It is common to see a retracement after such a run.

I expect we may well see the Index retrace toward 2000-2020 which would represent a 50% retracement from the upside run we have just had.

This would leave the overall uptrend intact and offer entry that is no longer at overbought levels we have just left behind.

 

Just saying........the market is still bullish imo.

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