What To Watch:
When market leaders start to roll over, it is always worth noting. Simon Property Group Inc (NYSE:SPG) has not only fallen significantly from its highs, but it is now forming a bearish pattern suggesting that selling is not over. This should be a warning sign and perhaps alert us of a future decline in the overall market.
If Simon Property Group Inc (NYSE:SPG) continues to consolidate below this major trend line it will have downside potential to the $158.33 area. Watch this pattern formation on the SPG chart and how the stock performs at this current level. It will present the smart traders and investors with a great trade; all you need to do is read the chart and be ready when the time to enter is most optimal.
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Kiliam Lopez
Elite Round Table
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