The Confluence of Reisistance on the $SPY Chart: 2/24/19

Chart Courtesy of StockCharts.com $SPY is near the last chart resistance at $279.50 from the two previous peaks that failed. Last week $SPY traded in a range from $276 support to $279.50 resistance.  The $SPY stayed overbought at a 70.56 RSI. $SPY remains above all moving averages.  $SPY remains of under several bullish crossover signals. […]

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Price Action is Bullish for Stocks, but Macro is Weakening

This is a Guest Post by Troy Bombardia of BullMarkets.co.   Market outlook: price action is bullish for stocks, but macro is weakening The S&P’s nonstop rally continues. Since the S&P broke out above its 200 day moving average, a lot of standard trend followers are coming off the sidelines. The stock market’s price action

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