Índice S&P 500
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THE BANKS GETTING BAILED OUT WON'T CHANGE MARKET DIRECTION...

137
SPX direction is still headed down.

Net volume down + increasing price = bearish divergence.

My call is still 3050 = .618 Fib support from ATH.

SIVB and other banks getting bailed out won't change this effect.

Just a few weeks ago, banks were "fine" and the direction was still down.

Massive bearish pennant broke, noted by green arrow.

Short term price action is all smoke.

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