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$SPX Daily Candle Analysis 8/12

INDEX:SPX   S&P 500 Index
The $SPX             continued to move up from its close on Friday as we predicted in our prior candle analysis. It tested the 1940 resistance and it was rejected. It did not fall far however and still closed positive for Monday's trading day. Because the market is still in oversold territory and combining our candle analysis, we predict the market will again close positive. We predict it will again test 1940 and either close above it or attempt 1950.
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