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Downside Targets (by Springheel Jack)

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I was saying yesterday morning that equities were looking short term toppy and they broke down fairly early in the day. On the SPX daily chart the decline found support at 1416, just over the support levels at the 50 and 100 DMAs that I mentioned in the morning. That could be the extent of the retracement, though I'm thinking we most likely see more, and on a break below 1415 area support I'll be looking at the daily middle bollinger band or 20 DMA in the 1405 area: