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Technical Analysts Declare Market on Brink of Total Breakdown

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For what it's worth I tried charting a few decades ago and thought it so much tea leaves. Just the same, submitted for approval:

U.S. stocks are coming off the biggest weekly decline in more than two years, and the aftermath of that drop has market technicians warning that major indexes are on the verge of a full-fledged, technical breakdown.

“The extent of the deterioration in equities is very much a concern given the combination of near-term technical damage, along with the decline in longer-term momentum after having reached record overbought conditions into late January,” wrote Mark Newton, technical analyst at Newton Advisors, in a Monday research note.

Here are some levels that the market is trying to defend or retake after last week’s withering action:

Edited by zenwalk

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