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April 8 S&P 500 Update – Neutral Price Action Below the White Resistance Line

$SPY had a strong selloff last week after bearish remarks from a Fed speaker. However, SPY also had a quick rebound and is now neutral below the white resistance line. I think there is more room for upside for SPY to climb up towards the white resistance line, and potentially above the white resistance line again. For now we could get some neutral price action headed into this week’s inflation data.

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