Where is S&P 500 Support?
Markets continued lower this week as levels we were eyeing as potential support provided no safety for longs, showing us once again why we refer to the levels as potential During a pullback like we are experiencing, technical analysis provides valuable clues to where battles for control are likely to take place. Our job is not to buy at these perceived levels, but to observe and then let the market prove itself to us if we are looking for buy points.
The video below takes a look at the trends of $SPY $QQQ $FB $RIMM $XLF $SMH $IWM
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