Midweek Update – SPY Rallies Hard But Beneath 5-day EMA

SPY (S&P 500 ETF) rallied hard intraday to only finish down 1.22%. While the candle does look like a ‘hammer’, confirmation is needed in candlestick analysis. The VIX has yet to really pop higher into the 30’s or 40’s, which is keeping ‘things’ interesting.

Ron Haydt

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