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Charts & Analysis

Market Snapshot: 4% recovery from 2 yr lows

A quick post about how the markets have done over the last few days, in both reaching a two year low (lowest since August 2009) and then doing a 4% recovery over two days.

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The slope of the 50 and 200 DMA are now down and it looks like the index is headed downwards. Strong technical support exists at 4,500 but nowadays strong is a relative word; news flow can be much stronger.