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Re: None

Wednesday, 07/28/2021 12:33:32 PM

Wednesday, July 28, 2021 12:33:32 PM

Post# of 5495
Fed Day

http://www.pretzelcharts.com/

"Last update wondered if SPX would test the intermediate gray trend line again, and it did, where it was obligatorily rejected (again):"



"Near-term, bears would probably want to see a deeper retrace for the fourth wave of a diagonal. Yesterday likely wasn't enough for that type of pattern -- so no deeper retrace may indicate no diagonal (at the very least, not yet):"



"In conclusion, still not much to add. We're still waiting to find out if the market is going to try for an extended fifth, or instead complete in a more boring fashion. Today is Fed day, which means if Powell sees his shadow, we can expect 6 more years of QE. Trade safe."

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