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S&P 500 Index slipped below critical defence line at 3216.98

SP:SPX   S&P 500 Index
S&P 500 Index slipped below critical defence line at 3216.98

The Index continued on its destructive path in today's session down more than -2% at the time of writing and has slipped below another support level at 3170.87.

The next support is approximately at 3147.00, but an important fundamental level to watch is at around 3110.00, this point could determine the next level of this sell-off. If it holds at this level, then we might see the Index move into recovery mode.

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