S&P500 Now @ 50% Retracement Level

Technical Analysis: The Complete Resource for Financial Market TechniciansSP500 has been trading side ways for more than one month now and has once again reached 50% retracement level today.  It closed at $1118 with relatively low volume.  However, I expect SP500 to go down from here.  At this point, I just don't see this index going beyond 50% retracement level, which is at $1121 range.  We should see SP500 reach next two support levels at $1107 and $1097 within next week.

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