By Andrew Nyquist
Last week, I pointed out the significance of another failed backtest of the broken up trend line. This is now playing out.
Questions remain: Will this mornings double bottom lows hold? Or will the market eventually push lower toward 1330-1340? “Feels” weak, but the Fed is lurking. Trade safe, and remember that overnight risk cuts both ways. Size appropriately.
S&P 500 annotated daily stock chart with technical analysis overlay as of intraday April 23, 2012. Price support and resistance Levels. Backtest. Price targets. SPX
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