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Assessment: Monday’s action was rather dull. The bulls are holding above SPY $530 which is a win for them. The thought could be that bears will wait for gap closure up to $540 and then fight hard to sell at $540…blunt the advance and get prices to drop once again. That’s the picture that is setting up at least. Futures point to a move up to start the trading day.
SPY Chart: https://sblk.io/s/GgK2idIeHzI71fz6
Good luck in your trades!