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new highs, but whats up with breadth?

$SPY well it’s been a busy week for the markets, and a lot has changed since last weeks market recap. For instance, last Sunday the $SPY was looking like it was going to breakdown below multi week support until the bulls stepped up their game and proved once again the old adage “with failed moves come fast moves”.  So in just 5 trading days…

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9/16 midweek market update

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bulls teetering on the edge

$SPY for a few weeks now I’ve had this 199.50 to 201 range drawn on my chart, patiently waiting until one of those levels gave way. This week, the market finally gave us a clue to the next directional move and that was mostly due to Friday’s session where we sold off all day and broke our line of support. So there…

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