SPX was already at the 61% percent retracement by the open 1146. Indices stopped there for about 15 minutes then blew through 1137, the 50% rally zone, within 40 minutes. This is very tough action, often driven by news and chatter on a minute by minute basis. This is why they say be very light until you see commitment to the Day 1 bounce, or wait until a follow through day on Days 4-7 to…
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