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| SPX Daily |
It appears we are stuck bouncing around between the lower 2 volume zones marked on the chart. Last Thursday, the bulls stepped up right at the top of that bottom zone (1325ish). Now that we're getting closer to the 1360-1370 area again... I think the bulls have an opportunity to push out of the range. A close above 1370ish will likely point to a push up towards 1400. On the flip, a close under 1320ish will likely point to a push down towards the lows (1266ish). I think there are currently higher odds that we run towards 1400, but earnings reactions will obviously have the last word.
