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S&P in Bullish Continuation Pattern


Since Friday's recovery rally high at 143.81, the S&P 500 SPDRs (AMEX: SPY) have carved-out what looks like a sideways, coil-like congestion area between 143.60/80 and 142.30/15, which I regard as a bullish continuation pattern that when complete should propel the price structure towards the 145.00 next target zone. Only a sustained break below 142 will begin to compromise the still bullish technical set-up.
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