With the SPY’s about 0.25 from a new high, and the pattern of higher pullback low very much intact, is there any reason why we should not expect the SPY to hurdle 139.14?
If yesterday’s end-month plunge to a new reaction low at $57.02, followed by a potential upside reversal to this morning’s high at 59, is a significant low, then the current decline should hold support.
We will find out shortly if the weakness off of last Thursday's highs into this Tuesday'slow was merely a pause prior to another thrust, or alternatively the beginning of a larger correction.
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