Another ugly trend down day for the market after SPY rejected our 50 MA resistance and broke 100 MA support.
Volatility is here to stay for the time being. As i wrote in last post.”We might see another shake out at some point “, and here we are. SPY needs to get back over Tuesdays low, 258.60 area and stay there for bull case,otherwise 200 MA test more likely. Doubt we will the see those “V” shaped bounce we have been used to seeing.
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