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Whether to buy the dip in U.S. stocks depends crucially on next week.
If next week’s SPX weekly close is above 7383, it might just be a false fall, and the market can continue to perform and dance.
If not, be cautious. A medium-term correction is highly likely to begin, with strong support around 6900. If it breaks below, it is most likely to retest the 6300 to 6600 range.
If 6300 cannot hold, the strong monthly support is around 5800, and it probably won't break below that; breaking below would mean the end of the bull market.