Welcome to the down trending channel in the S&P. Every since the announcement of tarping or the end of the QE announcement the market has not been doing very well. We talk more about this In our VIP ELITE SECTION HERE
As you can see the market got right up to the 1670 level, and since then, and Ben Benankes speech the next day, we have been selling off. Smart money is now taking profits, and we seem to be tractor beaming into the middle of the year, when seasonally the markets tend to be a bit weak. We break 1610 on the market and there could be real trouble, but for now the market is just in a nice down trending channel. So the next few days will be wait and see approach.
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