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March 25 S&P 500 Update – SPY Has Been in a Downtrend

Last week SPY had a bullish breakout above $517 after the March 20 FOMC meeting. However, there has been a selloff since this spike with two red daily candles, and today $SPY has opened with a bearish gap lower. As discussed in my last YouTube video, I think SPY continues trading around the white trendline until there is a steep correction.

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