SPY experienced its first pullback after the rally starting March 24. However the pullback was relatively shallow and SPY appears to be holding the level well. Although SPY is still under the downward trendline, since it is forming higher lows and it is holding above the .382 fib, it appears bullish and may break through the 20 day MA and trendline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.