The $SPY $QQQ $SMH are all below declining 🔵20 & ⚫️50sma (daily chart on top) There is a very clear pattern of LH and LL The 15 min timeframe below shows these markets have rallied up to their declining 🟠5sma This is how I think of things here, If: - long from higher prices, consider trimming some with intent to repurchase lower - long from lower prices, consider trimming some and raising stop so it doesn't turn into a loss - short, this is not the place to cover - in cash, start to anticipate possible failure in this area or something else?
Brian Shannon, CMT ⚓️Share
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