SP500: Dead Cat Bounce

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SPX-M0-1024x699

Monthly time frame:

 

  • The 10 mma has a negative slope
  • In addition we know have a lower high and a lower low

 

We should not rule out that SP 500 has begun a corrective phase that could open the door to a 0.382 retracement of the advance from the 2009 low which would coincide with a test of the Double Top break out (2000 and 2007 highs), I am talking about the range 1574-1553.

SPX-M0-1024x699

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