The S&P's almost tagged the 2012 highs, however, following the FOMC minutes we saw a liquidation break. However, the sell off was not aggressive. The Short Term trend is still up and unless Sellers step in the odds are high that we at least re-test the recent highs.
Value developing below the Rally High at 1456.25 targets the prominent POC and Poor Low from Wednesday. The high from Thursday was also poor - Price acceptance back above the 1456 area targets the recent highs.
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