There is an upward wedge on the daily chart. It is not worth buying the SP500 Index until we close above there, which tomorrow would be around 1301ish. If you want to know how to spot a wedge, go to the last SP500Tracker™ newsletter and have a look at the chart.
A break of the wedge could bring the SPX quickly down to around 1258.78, which is the base of the wedge.
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