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S&P E-Minis Bear Cycle Extends

  • S&P e-minis maintain a softer tone.
  • The contract has breached key support at 4235.50, the Oct 4 low and bear trigger.
  • This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs.
  • Moving average studies are in a bear-mode position too.
  • Note too that trendline support, drawn from the Oct 13 2022 low (cont), has been cleared. This strengthens a medium-term bearish argument

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