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Markets are stuck in limbo between the 200 SMA and the 20SMA. If we do not start confirming an uptrend and break and hold above resistance line, I see SPY dropping down to the rectangle area within the year. if we drop and hold below current support line
Strong support between $26.00 and $26.50 on the daily chart. Some previous gaps happened at this level so I think its a key level. Since stochastics is in oversold levels I'm going to try to get in at the above mentioned price point and anticipate a bounce to somewhere around the $29.30 mark. If price ends up going below $26.00 I'm going to short it until...