S&P 500: Are we going to ding dong again? $SPY | Investment Moats Skip to Content

S&P 500: Are we going to ding dong again? $SPY

Markets did a good job in recent days breaching the lower tops and going above the 50 day moving averages. Right now, we have a resistance at 1220 or so where the markets were unable to move higher.

The amusing thing is that the markets retreated yesterday night from a high of nearly 2%. Breadth indicators are overbought.

I favor a move down to the 20 day EMA. If the markets have strength, they should push through this tight level.

Else we might just ding dong again.

Marc Faber: The US Dollar will do well
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