marketmind3

SPY ES1! SPX Still Bullish, Pause before higher

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AMEX:SPY   SPDR S&P 500 ETF TRUST
The weekly SPY chart continues to look positive.

I circled areas where strong bounce weeks ended up failing and reversing to new lows.

But IMO, those reversals came with poor technicals (MACD trending down and/or negative) and showed big red candles right away. Now, we're seeing different action - MACD is turning up now and last week was flattish, closing at support. Stay long

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