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Wanted to take a close inspection of the SPY this Tuesday morning…..The decline over the past few weeks has taken S&P 500 ETF (SPY) down to this trio of support lines, one of them being the 2007 highs.

For the broad market to get into downside trouble, these support lines first have to be broken to the downside, on a closing basis!

 

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