3/3 Ultra-Short-Term Indicators: No climactic readings today and the VIX closed above its moving average but remains mostly neutral. No information to be gleaned today.
Conclusion: The rally seems to have cooled somewhat but the rising trend channel is intact. The PMO is flattening out on the SPY's daily chart and intermediate-term indicators are turning over. However, short-term indicators topped and price didn't suffer. I suspect the rising trend channel will be breached, but it likely won't be a deep decline...most likely a pullback that would create a less steep slope.
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