In the chart below, the 1,300 level was key resistance for the 500 index (see post here)

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1,300 was resistance, now it is being tested as support

 

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Much will be determined by what the 500 index does at this key line in the sand.  This market has to break this support to be in real downside danger!  Currently….Support is Support

 

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past