Yesterday was a ton of fun with SPX/SPY, a Day traders delight, but a clear signal has been shown: This market needs a breakout soon, or it is likely headed for another 5% correction. Since last week Friday's gush up to new highs on the SPX, we've put in a series of lower lows, lower highs all week with yesterday's lows, 2254, the VWAP of the year's first trading session. Short term support is now at SPX 2254 and SPX [...]
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