Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Stockcharts.com doesn’t show the 23.6% retracement but it is 1538ish for those interested. For the other major pullback levels (and remember a 38.2% retrace is still considered “healthy”) see chart below. [If needed, click on chart twice – on this page and next, for a larger view]
After about 15 minutes of battling at this major trend line we’ve been citing it finally broke and the results have been predictable since.
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