Several technical indicators have reached levels consistent with intermediate lows, but key support levels have been broken, and despite some signs of being oversold, the market remains vulnerable to further declines, both over the short run and the longer term as well. The market averages have broken down from an important top, and some long term indicators are on the verge of confirming a major downturn. This report reviews the charts and data as well as new downside projections.
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