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Mr. Cooper Has Set the Price, and It’s 2370

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2370 is the key level to watch in SPX.

This ties to yesterday’s lows and the 20 day line.

So snapping 2370 in short order will also leave Train Tracks, as noted earlier in the Daily Market Report.

The SPX has already triggered a down Opening Range Breakdown (a break below the low of the opening 30-minute bar).

If it stays red, defense is warranted with 2370 looming large.

As we said the other day, a failure to exceed prior highs with authority followed by a violation between swing low support will be a bearish sign for a reaction.

Note the channel on the hourly SPY showed earlier ties to 237 as well (or 2370 on SPX).

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