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Although the market did go up efforts during the morning, after noon, the Bears took over and indexes fell again.
In this situation, it is important which can be the consequences for Wall Street thiscorrection. That is, how far he can reach the market?
As mentioned in the previous days, the SP-500 broke a major support level, opening thedoor to greater fall. Up to where? There are several levels that is worth mentioning.The first is a lightweight in 1.308 points. The next level corresponds to the SMA 200days, currently located at 1.277 points. From the technical point of view, strong supportis found in 1.265 points.
I think it's important to note that despite the present situation and the likelihood that the market returns to levels above the long-term trend is still positive and there is great potential that still remains. On the weekly chart, we see this very clearly. However, this correction is large enough to affect the portfolio or take advantage of this fall, taking the right positions. I think it is time to wait if you take action, while protecting our investments and taking the opportunities afforded us by the market.
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