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Tuesday, July 27, 2010

SPX analysis for 7/27/2010



The market opened with a gap up but started selling off right after the opening bell, and closed red forming a bearish reversal candle.
It is sitting at support right at the 200 day simple moving average around 1114, a pullback should find support first at 1100, then at 1080 at the 50 day moving average and if that one is broken next is 1060.
Resistance is June highs around 1130

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