Couple of wild day in the market. Finally market caught an over sold bounce.
SPY short term support at 100 MA and resistance now at 50 MA. After two wide range days in the market, I am not expecting any big moves Wednesday. We might see another shake out at some point and then some range bound action before the final direction. Bulls,last 2 years have been used to see “V” shaped recovery. Maybe it will be same again but some huge overhead resistance for now.
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