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This very long-term chart shows that in 2015 at a price of 2158.70, S&P 500 (SPX) traveled 1491.91 points off of the March 2009 low, which equaled the distance traveled between Oct 1974 and March 2000. If we extrapolate from a 1:1 ratio, to the next Fibonacci relationship, or 1.236 x the distance of the 1974 to 2000 advance, then we arrive at a next target of 2510.79.
The stock market indices had an interesting session with a steep decline in the morning, moved sideways in a basing-type consolidation, which could have been bearish, but it turned out at the end of the day, and the last hour they moved up toward resistance, although it was a mixed session, and narrowly mixed session at the close. Net on the day, the Dow was up 7.91 at 20,619.77, 20 points off its high. The S&P 500 was down 2.03 at 2347.22, with a high of 2351.00, matching its all-time high. The Nasdaq 100 was down 1.75 at 5300.64, with a new all-time high at 5316.17. Advance-de
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