Relative Strength Wednesday - The Data Says Institutions May Sell the Rallies
As of two hours prior to the end of trading, the SPY has retraced its down-move to the approximate point of broken support, now resistance, around the 40-day EMA. This is a classic bear flag pattern. In other words, a classic setup for another market-down leg. It isn’t guaranteed, but the odds favor the downtrend continuing. The market started highe…
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