Happy new years to all! Some volatility on the last day of the year.
SPY finally closed below short term support 8 EMA after multiple tap. Next obvious support on 20 MA followed by 267 area. Slim picking as far as watch list.Not sure if its just another garden variety pullback due to tax selling, end of the year position sizing by big funds etc. or start of a prolonged correction. I’ll be mostly focusing in index shorts if market continues to weaken until clearer picture emerges.
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