If the SPX would break down under this level, there would be a significant correction that would ensue. Many catalysts or in place for it to happen. Long-term investors should be wary still of entering at these levels. The market remains drastically overbought despite the recent correction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.