Hey Guys, just an update on how the market correction is going. Even though I'm extremely bearish on the market in the year to come there is always bull rallies in declines and regardless my bearishness you have to look at the evidence on the charts and follow. We have a bullish divergence on the RSI and the price chart is tightening into a Bullish Pennant these are extremely strong reversal signs. Going back in history this seems very similar to what happened in 2008(image below) where we had a rally up before the major sell off started again this also goes well with seasonality were we on average bull in late March into April before correcting. We would need a "Lehmen Brothers" event to start the sell off and with the major banks in Europe getting slammed it could happen but it wont be until later in the year we see this unfold. But for this little upside my target is around 15200 which has a confluence of resistance being the top of the Pennant, earlier support and resistance, the Fib sacred .618 level and the 150 ma.
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