Option Investor
Update
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SPX is about to test last Wednesday's low near 835. A break below it would confirm the high for the rally is now in (after today's sharp decline I think we already have our confirmation). Slightly lower, near 830, is the broken downtrend line from November-January. I would expect support in the 830-835 area to launch a bounce to correct today's drop.

SPX 60-min chart:
[Image 1]

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