S&P 500 – Bend, Bend, Bend…. Break
Thursday, January 7, 2016 11:22
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by Dan Norcini
Trader Dan
The S&P 500 has been bending over the last three trading sessions ( first three trading days of this New Year) but refused to break down. Overnight however, that has changed, at least during Asian trade and very early European trade.
Notice how the index has dropped below the 2000 level twice to start the year but always managed to close back above that level. On Wednesday, the market broke down below that key 2000 level but rebounded heading into the closing bell to avoid managing to close below the spike lows in December and on Monday of this week.
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Source: http://financialsurvivalnetwork.com/2016/01/sp-500-bend-bend-bend-break/?utm_source=rss&utm_medium=rss&utm_campaign=sp-500-bend-bend-bend-break
