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S&P bottom update

With a solid close above 23.6% of the move down at 2981.00, the first test for the S&P  to see if a longer term bottom is in, will be the area of 3049.00 to 3066.00. The first is the 200 day average and the second is a major Gann square and in between is 38.2% of the whole move down at 3063.00. Provided they get there, a break from it should send it back to test the lows. A solid close above 3066.00 and the low should be in and you can look for 3190.00 next.

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