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jjmatsjr
Feb 5, 2022 2:56 AM

SPY: Rejection of the 100 MA 

SPDR S&P 500 ETF TRUSTArca

Description

Bottoming is a process. The last 2 years has conditioned many to "buy the dip" as pullbacks were quickly scooped up as buying opportunities. We reached greater than 5% penetration of the 100 MA during this correction, so history tells us we won't have the V-Shaped recovery many are hoping for. We likely have at least 1 more down leg before a real bottom occurs.
Comments
scottybugatti
What about it? Looks like we got close to the 200 DMA today, you don’t think we’ll test it again?
drhpatel87
Do yourself a favor and look at monthly 10DMA. Daily 200DMA. You’re welcome!
scottybugatti
@drhpatel87 What about it? Looks like we got close to the 200 DMA today, you don’t think we’ll test it again?
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