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A picture is worth a thousand words…
The LT trendline support dating back to the March 2009 low was just broken. That level is at 1275.
Nice job by S&T at the 1308.50 sell signal this morning (actual HOD was 1309.75).
S&T is trending bearish under 1300…intraday bull/bear line now moves to 1275 long-term TL break level. Next target lower is IT trendline support and LT primary trend line at 1260.