Good Morning Everyone!
SPY has been bouncing in between the 10 and 50 Day EMA's for the past week or so. It is currently testing a downward trend line and the 10 Day EMA. If it breaks above expect a move back up towards or past ATH's. Otherwise we will be heading back down to hit the 50 Day EMA for the third time in a week while also posting another lower high.
We are squeezed in a tight spot at the moment and which ever side breaks first expect a strong follow through.
SPY has been bouncing in between the 10 and 50 Day EMA's for the past week or so. It is currently testing a downward trend line and the 10 Day EMA. If it breaks above expect a move back up towards or past ATH's. Otherwise we will be heading back down to hit the 50 Day EMA for the third time in a week while also posting another lower high.
We are squeezed in a tight spot at the moment and which ever side breaks first expect a strong follow through.