SPY has formed a triple bottom.
If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338.
If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily).
Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech sector has been over-valued and needed to come back to the 50-day SMA.
If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338.
If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily).
Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech sector has been over-valued and needed to come back to the 50-day SMA.