SPX low overnight of 1249.1220 on the SPX would be the 38.2%...

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    SPX low overnight of 1249.
    1220 on the SPX would be the 38.2% retrace from the July '10 to Feb'11 advance.
    It could mirror the 38.2% retrace from the Mar'09 to April'10 advance, before the market took off again.
 
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