The US 500 stock index (cash) erased January’s gains in one day and slumped to a three-week low of 3,711 after the 3,855 bar proved to be a tough resistance to overcome. That was the biggest daily loss since June 12. The touch with the 50-day simple moving average (SMA) brought the calm after the storm near the 23.6% Fibonacci retracement of the 3,233 – 3,869 upleg. However, given the negative slope in the RSI, which has dipped below its 50 neutral [..]
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