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It's not over yet.

AMEX:SPY   SPDR S&P 500
183 0 1
We are still inside the main channel, this is a normal correction which can take us to a bumpy ride since the market is extremely nervous. The Russell 2000 has already broken the mid channel and the lower channel support, so the perspective we have ahead is not very optimistic. We could still expect some retracements and retesting of the channel levels. Long positions are not advisable with these conditions. Be careful and remember what classical authors say "Cash is also a position"
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