It might finally come.

FX:SPX500   S&P 500 Index
Pretty big technical event today. S&P             close below 200SMA for the first time since last Oct. It could face a big correction finally. The exact path and target is hard to project for a correction like this. Since this correction is higher in degree compared to the nikkei is in. I expect this one to be deeper and/or longer. Check the big RED pitchfork I draw. The fact that we are in a big correction doesn't mean We couldn't make new monthly high. Be very cautious about this one.
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