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Friday, August 28, 2015

Market Thought... $spy restructuring

Fear is still pretty elevated, and the SP500 is looking for structure. Long term support was breached.

The 360sma is either recaptured as support, or the market is entering a new trading dynamic. Maybe one of consolidation. High 1800s seems, as good as any, to act as a bottom range. But will the top range be closer to 2100 or  near 2000?

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