Sell off day in the market as SPY finally gave out 50 MA and breakout area turned resistance support 206.
Trend line and 100 MA support area is now at 203.60. SPY also closed under Bollinger Band so i will be looking for some type of bounce soon. We are finally getting some volatility in the market so it should be great for short term trading. Speculative money is still out there , shown by the move on some of the bio tech stocks. So i am expecting bulls to show up soon for some dip buying.
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