The S&P 500 pushed to a new high yesterday and fell away from it into the FOMC meeting. Is that enough? Is the swing high set? Maybe. I favor treating it as the high has been set though I can come up with a way to interpret the form from the October 30th low needing one last high. If the high has been set we should be looking at a 60-90 point correction over then next several weeks.

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