Key Point in the Market

Spy

The SPY finished the week at a Key point with regards to what may happen next.

If the coming week sees selling that drops the SPY into the Yellow zone on the chart above, I would expect a retest of the 50DMA.    That would be perfectly fine in a big picture uptrend, but if you have plans to buy stock, pay attention for when stocks are on sale, closer to that 50DMA, not while they are selling off.

Check back this weekend for a comprehensive chart review.

 

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