After a Friday jobs report that came in below expectations, the market has showed its resilience and has had a strong bounce back.
The chart above shows how the SPY pulled just below the 20 day exponential moving average (green line) similar to the last two small pullbacks and has headed higher since. New highs should be attained soon.
Bottom Line: Many have been calling for a market correction to occur, but there is a continued bid under this market that has kept this uptrend. I am looking for new highs in the coming days to weeks.
Thank you for reading.
Thank you for reading.
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