Apologies this is a bit late today - had some domestic issues to deal with today.
Market Overview
The SPY is closing at 765.7 today, still holding above the 21 EMA at 763.33 for what makes 15 straight closes above it. That’s a strong run, but the 8 EMA at 769.18 is now sitting above price and the last few sessions have been fading off the highs. We’re not broken here, the stack is still intact and the 50 day at 750.78 is well below us, but the momentum has cooled and this is the closest we’ve been to the 21 in weeks. Watch that 763 level closely, if it holds and bounces this trend keeps running. VIX at 15.9 says no panic yet.
