Friday, March 8, 2019

MTU Weekend Ed. - Retrace (3/8/10)

SPX reacted to overhead resistance and is retracing its rebound from the December low (Chart 1).  The 50-week SMA offered some intraday support (Chart 1) but SPX closed below its 50-day SMA (Chart 2).  Time will tell if this is a minor retrace or a reversal (Chart 3).

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