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Thursday, February 18, 2016

SPX headed for key resistance


We had a reasonably good day in oil and other sectors are also contributing to the rally. Asia and Europe are doing reasonably well. The SPX daily chart is testing the kumo resistance and then looking for test of previous resistance and kumo breakout. If there is a daily kumo breakout the 2000 target will look more realistic.


$VXX daily uptrend has broken down. Seeing if there is a follow on and RSI to drop below 50.


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