By: Ben Erichsen of Newzblitz.com In last night’s post http://newzblitz.com/blog/ we mentioned how the SPY, after yesterday’s grind up following the AM capitulation, closed at a 23.6% retrace of the impulse down from 7/21 highs. There is also confluence here in the form of the pivot low from late June. With this first key retrace achieved the question became whether this was all we’d have in…
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