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Markets Find Support On Key Level

|Includes: SPDR S&P 500 Trust ETF (SPY)

 The SPDR S&P 500 ETF (NYSE:SPY) traded down to a low of $131.61 today as oil shot higher. The SPY found major support at the pivot higher from Wednesday. This level represents a major support for the market intra day and should be watched. If the SPY breaks this level, gap fill is the next major support at $131.20. This whole market soley depends on oil. If oil goes higher, the markets will go lower.

Gareth Soloway