US Markets - S&P approaching initial target area
The S&P is approaching an Ellipse turning point indicator, with a range of 2814-2830, and our MFU-3 target of 2806. This is the first zone we would look to place a tactical long on with a stop just under the 200 day average. If things get overdone with more negative headlines, then we see risk to 2730. Our intermediate to long-term target of 3180 remains intact.
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