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Levels to watch on the way down

If the bears are going to warrant any respect, they need to take out, in order, these S & P 500 moving averages on a closing basis:

10-day: 1200
20-day: 1189
50-day: 1151

Watch how the S & P does at the close, and you’ll get a clue as to whether the bears have any teeth.

And by the way, I was just thinking we are getting pretty close to “sell in May . . . .” aren’t we?

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