- SPY Daily shows price nearing an up trend line.
- Price is also near Golden ratio and 100 Day SMA. So a pause or a bounce from these levels can be expected because of oversold conditions.
- Having said that when price re-enters a range after a false breakout the reverse move is usually swift and big so a bigger correction cannot be ruled out as well. We discussed the daily range in the Weekend update of SPY
- SPY WEEKEND UPDATE
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