Another day and another bounce off the lows for SPY. Not sure how many time this plays out before we see a big crack.
SPY 20 MA holds, needs to get over 8 EMA resistance. Action is getting volatile and indices are not reflecting weakness in many individual stocks. Leadership is getting narrower ,few names basically holding up the indices.Under the surface breadth is getting narrower as not may names making new highs, whereas too many names making new lows. Just something to keep in mind.
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