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he good news about the current state of the broad market is that the benchmark S&P 500 Index is now nearing triple convergence of key support levels: intermediate-term support of its 50-day moving average, the long-term uptrend line from its November 2012 low, and a substantial level of horizontal price support. Below, this is annotated on the daily chart of S&P 500 SPDR ($SPY), a popular ETF proxy for the S&P 500 Index

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