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“Very Obvious” Level Now Hit

By marketmontage
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Submitted by Mark Hanna

Courtesy of MarketMontage. View original post here.

This very obvious 200 day moving average on the S&P 50 has now been reached.  It took a while here as bulls tried to defend yesterday’s lows all day but once that broke it was a quick trip down.  Now the question is, is it just that easy for a bounce to happen from a level everyone is watching?

 

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