SPY crosses below current support and re-testing lower support
We can see from the trend over the past 2 months that SPY is now passing below its current support and re-testing a new lower support defined in late Dec and early January. At this point its quite undecided which way the market wants to go as the days have opened to much selling followed gains in the later day that attempt to bring us back to previous close. Smart money appears to be leaning mildly bullish during this period.
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