A close below S&P 1281 confirms yesterday's bearish harami candle-stick. I usually dont put a lot of weight into candlestick patterns, but considering we're likely in a down-trend and were trying to form a contra-trend, it's likely if we close below 1281 that the market will make new lows.
I'm still not ruling out one final push back towards the 50-day area, but with today's move, it's looking unlikely unless we see some type of strong reversal later today.
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