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US Markets - S&P coming into an important area for a big counter trend move
Cerundolo Investment Research
US Markets Update
Volume 6, Issue 1
January 24, 2022
Items of Interest:
Below is the note we sent out on December 20 where we indicated a buy area for the S&P and a MFU-4 target in the indicated double lined area. That area was 4811, and the high came in at 4808.25. Now we have the index coming into an MFU-2 area which is where we typically see a significant counter trend move. Be careful to not add to shorts but to look to cover most oversold names that may be near support.
