Markets took a hit from contagious Asian news. Although, I was expecting the markets withstand this news, based upon the up-time cycle. However, markets always find a way to remind us that we have to remain humble, even though, when you are correct "most" of the time.Nevertheless, the retracement of prices is healthy, especially when a new up-trend needs to gather strength, as it removes the sellers from the markets and keep less pressure and competition from sellers, when buyers step back in the markets. S&P-500 found support and closed today just above 50-days MA and 21-days MA. Both are very predictive of the future trend, if they hold the support. Therefore, once this support is held, which I think was held TODAY!!.
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