Market Breadth Data******************************

Saturday, April 22, 2017

$SPY Pattern and Trend

On a weekly basis, the SPY registered a 2 point advance. The daily chart, however, shows that the index got rejected 7 times at the 50 dma:


















while market internals were getting overbought:
















Expect support at 2340 and 2320 to be tested once market breadth starts deteriorating again.
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