Choppy tape today. The Dow closed up over 112 points while it felt like a lot of things were getting sold at resistance. I got chopped up in AAPL today and because of that I wasn't watching GOLD take off as I thought it might. Just one of those days.
Overall breadth was positive all day long as we churned our way back to SPY $104 (where we closed). The stability of trend line (slow line) on the 3/10 macd remained positive all day long (5- & 15-min charts).
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The SPY daily chart left us with a
morning star candle pattern. Overhead resistance at the 20-EMA.
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Things are still in limbo for the time being. I'd suspect a healthy move would be a test of $103.50 for support, otherwise we might take on $106 before you know it.
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