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Last week’s index decline still has price holding above the key .786 support levels in bold on the daily cash and futures charts. We’re entering timing support as well with a focus on the S&P today through Wednesday, Dow focus Tuesday through Thursday. It would be unrealistic to try to pin these down more precisely and I think the price support levels are more important at this point. Still, if the decline continues we’ll focus on 45 minute low timing too as a way to potentially pinpoint the maximum effect of the daily timing lows too.
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