As we have forecasted in previous posts, the SPY had reached the 320 levels, SPY is in correction mode after a few days where the market was overbought for a while with lower lows on the MA20, The 4 hours chart of the showed high levels of overbought and so we have the anticipated correction, which, once again is a GOOD thing since it is a sign of a healthy market.
We see this correction reaching the 318 levels and then moving upwards from there.
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