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SPX Candle Review of the First Half of 2015

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Q2 of 2015 closed today (Tuesday, June 30th). The following describes candle action, to date, in four timeframes — namely, Yearly, Quarterly, Monthly, and Weekly timeframes.

Each candle shown on the following chart of the SPX represents One Year.

The first half of this year is depicted by a “doji,” as of the close on June 30th — spelling “indecision” by this equity market. So far, the close is a mere 4.21 points higher than its open on January 2nd…not much of a gain in six months…no surprise, since price has been held back by the 161.8% External Fibonacci Retracement level (taken from the last major swing high in 2007 to the 2009 low), which is a typical major Fibonacci profit-taking level.

Each candle on this next chart of the SPX represents One Quarter of One Year. (more…)