S&P 500 correction over?

By Colin Twiggs
December 17th, 2013 1:30 am ET (5:30 pm AEDT)

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The S&P 500 found support at 1775, but declining 21-day Twiggs Money Flow warns the correction is not yet over. Breach of 1775 would indicate a test of the ascending trendline and medium-term support at 1730. Recovery above 1810 is less likely, but would suggest an accelerating up-trend — with sharper gains and shorter retracements.

S&P 500

* Target calculation: 1725 + ( 1725 - 1650 ) = 1800

CBOE Volatility Index (VIX) readings below 20 are indicative of a bull market.

VIX Index

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