Sell off day in the market after SPY gapped down below short term momentum moving average , 8 EMA and failed to capture it back.
SPY hasn’t had a test of 20 MA in a while, so 20 MA tap to 209/208.50 is a possibility. Healthy action so far as market churning and consolidating . Action in next few days will tell us whether it is just healthy pullback or beginning of a correction or get stuck in summer long range between 204 and 212.50. Our low float speculative momentum runners for day trades still working well, mostjy on shorting the spike. Check out SPHS, one of our day trade in chat, We were short on this right at open fade for huge gains for the day.
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