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Downtrend intact on Monday morning — will we agree in the PM?

The seven week long downtrend in the S&P 500 remains intact even after the Thursday-Friday rallies last week.

Futures are higher prior to the open and there is a possibility that we could take out the trend at the close.

Front and center targets are the 200 day moving average at 1107 and that mid-May gap at 1115.

Hope you have a great week trading!

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