Key SPX Targets to watch as Support to buy dips; Energy remains a group to favor

Key Takeaways

  • Monday’s SPX drop back below Sept 20 lows to kick off the week should allow for a bit more weakness in the days ahead; Yet technically this decline likely is buyable mid-to-late week
  • Support targets look close, in both price and time based on Fibonacci extensions of the first September decline, combined with upcoming DeMark exhaustion (4226 up to 4244)
  • Energy remains a sector to favor and overweight given WTI Crude’s breakout back to new seven-year highs.

SPX B...

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