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Friday, March 29, 2024

SPY Breaks 200 DMA As ES Set To Test Support; Stocks Drop On Volume Pick Up

Courtesy of Tyler Durden

A sudden drop in the EUR takes stocks down. No immediate catalyst, and the Schapiro-Gensler cabal sure hasn’t said anything to make the market nervous. Which means it is a charting astrology and technicals: the 200 DMA in the SPY has been breached, leading to a 5th consecutive onslaught at the DMA in the much more critical ES. Should this break, watch out below.

ES: Above 200 DMA

SPY: below 200 DMA

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