The market took the course of the more likely negative scenario last week, breaking support around 2095. SPX has set up a new, more sharply descending channel which could get worse. A major support level could soon be threatened, with much lower targets if it breaks down. In a rare setup, all key swing cycles are in gear to the downside, as are all indicators for those cycles. This report tells what usually happens under these conditions and what to look out for.
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