Courtesy of Chris Kimble.
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Many investors use the 200 SMA as a key line in the sand, per when to enter or exit the market. The 500 index is now crossing the 200SMA and crossing a rising support line, drawn off the 2009 lows.
A break of both the 200SMA and lsupport at (1) increases the odds that more investors will be willing to sell the S&P 500 in the near future.
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