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Bear Case on Hold as Major Indexes Respect Long-Watched Support Levels

Pelican Press

By Pelican Press,
in World News

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During Friday’s drop (which the media is characterizing as some kind of historic plunge, even though it was like 1.25%), the levels at which the equity futures slammed on the brakes was quite interesting to me. For the (ES), I drew a line months ago anchored to the prior lifetime high (red arrow). On Friday, at the worst part of the drawdown, the ES nailed this line almost to the penny and…

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