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S&P

17 Apr 2016 ‚óŹ 04:31 PM

S&P - is close to kissing the falling trendline from the all time high. The recent rally has multiple divergences on the daily momentum [see indicator on chart], the entire rise in the S&P also appears corrective like a series of 3 waves, multiple zig-zags, a-b-c-x-a-b-c- and so on. The divergences should eventually give way to a trend reversal to the downside towards the trendline of the lows near 1770.

snp170416

 

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