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Tuesday, November 1, 2011

S&P 500 (FX)

Prices put in a Hanging Man candlestick pattern below resistance at 1292.87, the 76.4% Fibonacci retracement level, and pushed aggressively lower to close below initial support at 1251.33, the 14.6% Fib extension. Sellers now aim to challenge the 23.6% extension at 1225.71, with 1251.33 recast as near-term resistance.

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