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It now seems to be heading back towards the September 24 low at 5,950 points, which could be an important support. A similar move can be seen on the German DAX, which is now back at its late August lows.
The DAX doesn’t seem to be able to hold any gains at the moment. On the S&P500, key supports have been taken out, which has created a broadening formation, and indicates that the index could go lower once more.