Good morning traders. SPY’s continue to trade in a 2 point range as we digest the markets previous upswing. This action can be seen as positive for the market given that buyers are willing to accumulate the market at these levels. We can see rotation taking place as the laggard sectors are catching up while the leaders (tech) are taking a rest.  I would expect for this rotation to continue this week. I would be very cautious of a market move above 115.8 without tech leadership.

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Spy Levels

115.80

115.04

113.55

113.20

112