The SPX rally off Thursday June 16 bottom has completely retraced the selloff From Tuesday June 14 high. There has been very choppy trading the last week indicating the selloff from early June was finding support on the 200 day ave. The index is just below the 20 day ave. The 50 day ave would been an upside target / resistance. At this point the 20, 50, and 200 day averages are pointing DOWN. so play cautiously to the upside.
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