SPY test of horizontal support 260 on Monday and nice reversal.
Needs to clear out trend line and 8 EMA for recovery process. As I mentioned , small cap led us down and it might be the first one to start bounce process. IWM outperformed Monday and Tuesday.
Needs to clear out 8 EMA for recovery process. Pretty much all charts has the same type of of look. Bouncing horizontal support and needs to clear out short term moving averages and trend line. Again we are mostly focusing on trading ETF’s. This type of volatile market they tend to act cleaner.
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