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S&P Continues to Show Strength Near All Time Highs

The S&P closed above $5,500 for the first time in stock market history. Today the S&P continues to climb higher, and SPY has been holding strong above a key white resistance level. Last time SPY managed to briefly rise above this white line before a steep pullback. This time SPY has flipped the white trendline from resistance into support, and is continuing to show bullish momentum. I would like to see a bullish weekly candle close for SPY followed by some more bullish momentum next week.

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