mahamitradj
Long

S&P 500 breaches 200D MA for gap down and back up

AMEX:SPY   SPDR S&P 500 ETF TRUST
Although we have a long down trend, we hit the 200 day moving average. From here expect strong resistance, especially approaching the initial drop zone. Look for an initial gap down on Monday and a run up from there as it did in the initial drop .
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