Good morning traders, market unchanged has us opening near the lower bounds of the last two week’s trading range. This week I am going to be watching to see how we react with the SPY 50 day moving avg. This avg. is used by larger market participants as a place to add to positions. Besides this price as my ‘line in the sand’ on the downside I will be watching 120.40 for an upside breakout.

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SPY

120.40

117.50

116