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S&P500 Corrective Rally Is Set For 1370/80 Test


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July 03 2012

S&P500 closed sharply higher on Friday, very close to previous swing high. This type of a rally at the end of the week usually puts more strenght in play for the next week, which means more upside in our case, to 1370 area. As such, we are now tracking A-triangle B-C pattern which is still corrective movement. So larger picture is still pointing lower but not just yet.

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