The S&P 500 has found support at a very important medium term trend line. We did expect this and the timing of this support (and movement to this trend line) is very good for our forecast.
Those who follow us carefully will know the importance we place on timing and if you spend some time studying the chart you will see that the “rate of attack” on this support is increasing.
Ideally we would like to see the red dotted line hit but we’d be reasonably happy to build long positions in the dotted green circle.
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