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Assessment: Tell me that red line doesn’t mean something! LOL!
It’s holding tight and bounce around which further illustrates the importance of that level. Once the magnetism of that level goes away then the ensuing move should be a strong one. Below the red line and I am short with my stop being a close above the red line.
SPY Chart: https://sblk.io/s/rxaxuoTesOTKnSNK
Good luck in your trades!