The bounce yesterday came at SPX 1170 which is a 50% price retrace of the 2002-2207 bull market. The 2000-2002 bear market was about the same range and the SPX 1160 level is the mid-point of that range.
The 2005 SPX October low was near 1170. Market geometry is funny like that…
Tags: Square of Range · Standard and Poor's 500 (S&P500)No Comments


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