SPY rejected by MA20 as projected; Powell talks starts tonight
- MA20 rejection (around 405) happened like clockwork
- Setting up for major catalysts next few nights (Powell handle congress Tues night, handles house wed night) and then NFP Friday
- It will make or break the market
- Bullish means yellow MA5 continues to come up to possibly cross MA20 again by Friday or next week (again, as per past sharing, MA5 cross MA20 is a trend indicator, NOT a trade indicator)
- Bearish means MA20 continues to be a rejector as prices drop to 400 and then 396 (Looks like 393 might be the worse case this time)
- Too early to tell but still cautiously bullish and won't be so until see another MA5/MA20 cross
@TigerStars @CaptainTiger @melson @Deposit @LMSunshine
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Thanks for sharing