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SPX Chart

 
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arthur
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PostPosted: Mon Jan 03, 2005 4:36 pm    Post subject: SPX Chart Reply with quote
SPX continues to be in a bullish pattern, while holding the 50% Fibonacci level at 1,163. SPX has support at the 20 day exponential MA (EMA). Next support levels are the congestion areas (circles) and 50 day EMA. However, Jan tends to be a bullish month, particularly early Jan, because of new retirement money. Consequently, there may be buying on dips.

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