Option Investor
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This morning's quick pop higher had SPX tagging 858 which is the Fib projection for an a-b-c bounce off yesterday morning's low where the c-wave achieved 162% of the a-wave. This morning's initial high now is a key level for the short term--above it would be bullish for a stronger rally up to the 880 area. In the meantime the bounce off yesterday morning's low can be considered complete which calls for strong selling to follow and a break below yesterday's low.

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