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Stock Market Bloodbath Coming?

Stock-Markets / Stock Markets 2013 Aug 15, 2013 - 05:27 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Just letting you know that the SPX may be nearing the top of its bounce.  I fully expect to see the market “let go” by noon today, trapping the majority of hedge funds massively leveraged long.  Notice there are no supports beneath the 50-day. 

In fact, the next supports are at 1548.00 (the 200-day moving average) and 1565.00 (daily mid-Cycle support).  This could trigger the next Broadening Wedge formation at 1585.00 with a target of 1260.00. 


We could see a bloodbath in the SPX over the next 24 hours. 

Regards,

Tony

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