January 18, 2013 at 09:38 AM EST
SPX Finally Captures Long-Standing Target of 1480-1490
Wednesday's update noted that SPX (INDEXSP:.INX) 1467.56 should serve as a dividing line between a deeper correction and a trip directly into my long-standing target zone of 1480-1490. Amazingly the market found a bottom at 1467.60 and then proceeded to rally up to 1485 (somebody out there nailed a perfect risk/reward trade entry!). Also note the 32-point trade trigger of December 20 2012 was finally captured in the process (1448 to 1480). Going back to November's updates there was one big scare along the way (when 1411 broke) which switched my public stance to neutral but all the blue ...
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