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Alert: Possible Topping Tail On S&P 500

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January 24, 2013 – Comments (0) | RELATED TICKERS: SPY

The markets have fallen off their highs, back to the flat line. This is significant for a few reasons. First, the S&P 500 hit the master target level of 1500 at the highs. Secondly, if the markets close flat to lower, a topping tail will have formed. A topping tail is a technical signal of a reversal of trend. In this case a move to the downside. The fact that it may coincide with the master level target is very significant.

Gareth Soloway
InTheMoneyStocks

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