What About SPX?

ES’ original recovery channel officially bit the dust yesterday. This morning, we have a new, less ambitious one offering to take its place.

However: the SPX problem persists: What to do about SPX 2703.62?  ES’ new channel will also need to break down if we’re ever to reach the strongest support possible.

Spoiler alert: nothing I’ve heard out of D.C. thus far suggests otherwise, while the growth of the Fed’s QEnot continues to speak volumes.

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