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For today's Mid-Day Minute, Mike writes: Although the E-mini S&P has declined to a new reaction, intraday low at 1114.25, my work argues against entering new short positions "down here," and instead, to be patient for a rally back towards the 1120 resistance area... While we wait for that-- and right now, the likelihood of rally to 1120 does not seem particularly high -- have a look at our updated overlay chart of crude oil vs. the December E-mini S&P (hourly)...

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