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$SPX Daily Update

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

Another day where there was some intraday movement, but in the end the market went nowhere. Over the last three trading days the market has moved marginally higher. But because of the huge drop last week, we see the moving averages continuing to slide down to meet the price action. We still want to see some sort of healthy bounce before committing to a new trade. Plus a good indication that the market is overbought (Williams %R above -20). Will we get it today who knows? If the Psychic Friends Network was still running, maybe we could give them a call! Oh well, guess we'll just have to wait and see.

Good trading!

Disclosure: No position