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Monday, June 17, 2013

Market Thought... technicals

Everyone is scared of the tapering? I guess. Or maybe its Japan's wild ride. Seeing a bull market and a bear market within a 6 month period. (All while still being up some 20% for the year, thus far.)

Given the Vix, investors are scared of something.  The SP500 is on areas that can easily act as support, especially given the elevated Vix.

If the 62sma breaks down, the monthly chart suggests the SP500 may see the 1550 area.

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