Next Stop To The Upside

spx_weekly

The Bear launched itself over 900 on the S&P 500 today. The more than 3% move likely sent short-sellers running for cover.

We’ve been watching institutional grade sellers take position over the past few weeks. Today’s Accumulation was like an upper-cut to their jaw.

Next stop to the upside will be the 950 area where the S&P 500 will meet the heavy resistance mark of the 200-day moving average.

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