There is one chart that's been worth more than a thousand analyst optionios. Seeing is believing, so take a look at the chart below. The Dashed red circles highlight all the major similarities between the 2007/08 and the 2011 S&P highs and subsequent sell offs. The main differences between the two ...
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150 day support likely to be broken
150 day resistance which was broken through easily to upside, looks like has failed to provide support. The action shows we are back to the trading range as shown below.
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