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Strategies & Market Trends : News Links and Chart Links

SPXL 219.24

+2.0%

Nov 26 4:00 PM EST

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From: Les H	7/21/2023 8:40:42 PM
	of 29600

Market is showing corrective signs. With major earnings released through the week and a FOMC meeting on Wednesday, July 26, the path lower won’t look easy. If the S&P 500 (SPX) continues to correct lower to July 26, and the SPX is above the 30/45/60/90 minute TDST Support level at 4504.90, a retracement higher to challenge the 4578.43 high is probable. It is also plausible to see fresh highs as the 2 and 3 day SPX timeframes are on the cusp of a perfected TD Sell Setup @9, and would require a high print at 4578.43 or higher. If the SPX sells off hard below 4504.90, the conclusion is money is fleeing the market and lower highs and lower lows can be expected from there. Note the daily SPX has an active TD Sell Setup @8. If the SPX manages to close above 4554.98 on Monday, July 24, be open to a final melt up to the TD Trend Factor at 4655.95. This would fulfill many DeMark price exhaustion measures across many timeframes. tradetrekker.wordpress.com

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