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How the S&P May Drop to 1370

While the longer term trend hasn't changed in equities, a slightly deeper correction may be due for the S&P 500.

This index has been holding up very well relative to the Nasdaq and the Russell 2000 due to the exposure in large banks and homebuilders. If those two sectors give up their recent gains, we are most likely headed to 1370-1380.

by Steven Place

Steven Place is the founder and head trader at