Charts I’m Watching: Oct 19, 2012

SPX has fallen as far as it should if the bounce up to the .886 is going to happen.  I was stopped out at 1452.50 and will look to establish a long position at the .500 at 1448.25 or midline at 1446.30.  If it breaks those, there’s plenty more downside to come and I’ll play along on the short side.

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