$SPY - Consolidation in Progress

SmartReversals
12-14

$SPDR S&P 500 ETF Trust(SPY)$ - Consolidation in Progress - Pullback Brewing

Price action is vanishing momentum, the 10DMA is losing strength. A visit to the 20DMA seems imminent considering the bearish MACD crossover.

Is the 20DMA a relevant support?: The circled volume shelf suggests so.

$.SPX(.SPX)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$ $E-mini Nasdaq 100 - main 2412(NQmain)$ $E-mini S&P 500 - main 2412(ESmain)$ $iShares Russell 2000 ETF(IWM)$

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Looks 50/50. Some hope for bulls is that S5TW (S&P Stocks above 20-day Average) is near the low 30s where every bottom this year (except April's bottom) has formed. RSI is still relatively high and SPY is in the upper Bollinger Band like at the May bottom.

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