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Wednesday, 05/19/2021 9:51:41 AM

Wednesday, May 19, 2021 9:51:41 AM

Post# of 5495
"First key support violated at Tuesday's close"

http://www.pretzelcharts.com/

Last update warned that if bulls couldn't muster another wave up, then the 4128 zone would become key. At the close yesterday, SPX broke that key zone, and futures indicate a sizable gap down this morning:



"SPX was rejected at the blue trend line on the 60 minute chart:"



"NYA was rejected at the back-test of the red trendline (I noted in Monday's update when this back-test was underway):"



"In conclusion, bulls will have a shot to try to hold the zone around last week's low (plus or minus a bit) -- if they can't, then next targets apply as discussed. Trade safe."

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