As you can see on the S&P close today. We went up and touched the highs back in AUGUST and that offered pretty heavy resistance. Now we are in a make or break area. It just goes to show this market is still resilient, and we did warn our readers not to fall in love with the downside yet.
All Eyes will be on the FED announcement towards the end of this week, where they will decide on if the economy is strong enough to start tapering off. Even if they do start to taper, I doubt it will be significant enough to scare the market, but time will tell.
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