SPY managed to hold 200 MA and a bounce that stalled at 8 EMA and previous support now turned resistance.
Hard to tell if this was a just a short covering rally ahead of the long weekend .Next week we all get a more clearer picture. 200 MA line in the sand for SPY with short term resistance at 8 EMA. Over 8 EMA ,next resistance is at 100 MA and 270 area.Lots of technical damages were done to many charts and it will take a lot by bulls to start healing charts.
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