the fact that the S&P turned indecisive as it moved down to test key support does not favor a sustain break to the downside. Our near-term work on price pattern and momentum suggested that the S&P will regroup and rebound from near trend channel moving average. Over the next few days, traders should look for trading behavior as recent breakdown point, around 4075, is tested as resistance. If the bulls can push above that level, then market will regroup and move higher
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