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SPY Continues to Show Bullish Momentum

The S&P 500 continues to rally higher, closing at new all time highs yesterday. SPY has broken above the red and white resistance lines. Yesterday SPY flipped the white resistance line into support and has rallied higher. There is some resistance at the new all time highs around $548.27, and SPY is trading sideways below resistance here. There could be some short term pullback, and I would monitor the yellow trendline for a break or rejection.

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