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SPX Index Forecast Update September 21 2021

SPX Sep 21 2021

Yesterday saw a nice snap down to our long entry zone and at the time of writing we have seen a recovery in price of over 90 points.

However we are now in a dilemma. We have a unconfirmed short term trend line bisecting a confirmed medium term trend line in the next couple of days. This increases risk on the long position (if held in isolation) so it could be worthwhile exiting the long as it approaches the “?” and maybe even thinking about entering a short with a tight stop.

A break above 4450 would give us confidence that the market could make one final push up for the year.

SPX Sep 21 2021
SPX 500 Forecast Update September 21 2021
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