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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





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Monday, January 24, 2022

SPX: The Blowoff Phase Has Begun

Further to my post of December 6, 2021 on the SPX, the "Blowoff Phase" has begun, as shown on the monthly chart below. 

At the time of writing this post, today's low is 4221.54, which is January's low, so far, and is roughly a 12.4% correction from its all-time high of 4817.88, set during the first week of January.

Please refer to my subsequent posts here, here, herehere, and here for further insights, as well as price targets and support/resistance levels.

By the way, the channel "mean" is just below the S2 pivot level of 3266 mentioned in my January 1, 2022 post...a target/major support level.