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S&P Strong Rejection at All Time Highs

The S&P had a strong rejection near all time highs at the yellow trendline around $548.22. This selloff has sent SPY below the white trendline, and I would carefully monitor $545.76 for a break or rejection at the white trendline. The next key support level is the red trendline around $538.57. For now the price action is still neutral and slightly bullish.

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