S&P500 Could See 1500 Break Before Deeper Retracem *LINK* *PIC*

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TFC Commodity Trading Forum

Jan 28 2013

S&P 500 is trading nicely higher for the past few weeks, clearly in impulsive fashion form 1400 swing level. However market is approaching some important Fibonacci levels just above 1500 psycho level so we could see a sizable pull-back from there, but only in a corrective formation. In such case that would be wave 2) as labeled on the chart below. But before that we need to see end of red wave 1). We need to scroll to lower time frames to see the structure within wave 1).

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